A<\/span>buja – (The Guardian)<\/strong> The Nigerian National Petroleum Corporation (NNPC) has dispelled the fear of possible scarcity of petroleum products as the festive period approaches.<\/span><\/p>\n

Group Managing Director of the Corporation, Maikanti Baru, who urged the company\u2019s subsidiary, Petroleum Products Marketing Company (PPMC), to re-strategize for profitability, also gave the assurance that there would be a hitch-free supply of petroleum products nationwide during the season.<\/span><\/p>\n

Baru, who spoke at the inauguration of the board of directors of PPMC yesterday, insisted that the company must ensure the steady supply of petroleum products even beyond the festive period.<\/span><\/p>\n

Besides, Chief Operating Officer (COO), Downstream, and alternate Chairman of the Board, Ikem Obi, who also spoke at the occasion, was optimistic about the country\u2019s downstream sector, stressing that the nation would never return to the era of products scarcity.<\/span><\/p>\n

Managing Director of the PPMC, Umar Ajiya, said the resuscitation of depots in some parts of the country had contributed to the steady supply of products nationwide.<\/span><\/p>\n

He assured that the company would be placed on the part of profitability, adding that other petroleum products would equally be made available alongside PMS (petrol).<\/span><\/p>\n

Meanwhile, the Nigerian Content Development and Monitoring Board (NCDMB) has said that plans are underway to prosecute any oil and gas firm in Nigeria that fails to comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.<\/span><\/p>\n

The Executive Secretary of NCDMB, Simbi Wabote, who spoke yesterday at the seventh Practical Nigerian Content (PNC) in Uyo, Akwa Ibom State, hinted that the board would soon organize a sensitization workshop on NOGICD for judges to kick-start the prosecution process.<\/span><\/p>\n

While Wabote stated that the board has begun the systematic expansion of operations to cover midstream and downstream sectors of the oil and gas industry, the Akwa Ibom State governor, Emmanuel Udom, represented by the Secretary to the State Government (SSG), Etekamba Umoren, decried the continued stay away of oil firms from the Niger Delta.<\/span><\/p>\n

In another development, Nigeria is expected to save about $120 million (N43.2 billion) in demurrage yearly following the commissioning of Oando\u2019s Lagos midstream jetty yesterday.<\/span><\/p>\n

The jetty, located at the Lagos Apapa Harbour, is expected to alleviate the perennial infrastructural hiccups being experienced in Apapa and eliminate the demurrage charges currently being incurred by petroleum marketers. It will also reduce discharge time from 21 to three days.<\/span><\/p>\n

Chairman, OVH Energy, Wale Tinubu, said: \u201cThe Lagos midstream jetty was conceived as an innovative industry solution to the perennial challenges marketers faced in the importation of petroleum products.\u201d<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

File Photo: NNPC mega station in Katsina. Credit: The Guardian \u00a0Corporation\u2019s GMD tasks new PPMC board on profitability \u2022 NCDMB to prosecute oil firms for non-compliance with local content policy \u2022 \u2018Nigeria to save N43.2 billion yearly as OVH commissions Lagos jetty\u2019 Abuja – (The Guardian) The Nigerian National Petroleum Corporation (NNPC) has dispelled the…<\/p>\n","protected":false},"author":2,"featured_media":6235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[48,47],"tags":[],"_links":{"self":[{"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts\/6233"}],"collection":[{"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/comments?post=6233"}],"version-history":[{"count":1,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts\/6233\/revisions"}],"predecessor-version":[{"id":6236,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/posts\/6233\/revisions\/6236"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/media\/6235"}],"wp:attachment":[{"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/media?parent=6233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/categories?post=6233"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/moovafrica.com\/news\/wp-json\/wp\/v2\/tags?post=6233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}