Alison-Madueke allays fear of fuel scarcity

*New NNPC board of directors hold inaugural meeting

16 August 2012, Sweetcrude, Abuja –
The Minister of Petroleum Resources, Diezani Alison-Madueke, has allayed concerns that the nation may be thrown into another bout of fuel scarcity explaining that there is enough fuel in reserve within the country to last 40 to 45 days.

The Minister made this clarification at the inaugural meeting of the newly constituted Board of the Nigerian National Petroleum Corporation.

Alison-Madueke explained that the artificial hitch in distribution currently being experienced has nothing to do with shortage in supply but unresolved issues between the Ministry of Finance and petroleum marketers.

She expressed optimism that the issue will be resolved soon as the federal government was in control of the situation.

Speaking at the inaugural meeting of the NNPC Board, Mrs. Alison-
Madueke, who is also the Chairman of the Board, congratulated the members and urged them to join hands and work towards taking the corporation “towards the goal of becoming a world class oil and gas company.”

“Your appointment to the Board is a call to duty which also requires the support of NNPC Top Management in steering the corporation in the desired direction,” she told the board members.

She said the Corporation has made some strides in the areas of increase in crude production, unprecedented increase in gas supply to meet power demand, aggressive revamp of refineries and introduction of measures to ensure safety and security of pipelines and called on the board members to ensure that these gains are sustained and built upon.

The Board members present at the meeting include NNPC GMD, Engr. Andrew Yakubu; the Permanent Secretary of the Ministry of Finance, Mr. Danladi Kifasi; the Group Executive Director Corporate Services, NNPC, Dr. Peter S. Nmadu and the Group Executive Director GED Finance & Accounts, NNPC, Mr. Bernard O. N. Otti.

Other members of the new Board inaugurated at the meeting were present at the meeting were Mr. Steven Oronsaye, former Head of Civil Service; Prof. Olusegun Okunnu; Alhaji Abdullahi Bukar; Mr. Daniel Wadzani and the Company Secretary/ Legal Adviser, Mr. Anthony C. Madichie.

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