A Review of the Nigerian Energy Industry

Petrol pump price reduction won’t affect loading –Nipco

22 January 2015, Abuja – Nipco Plc, an integrated indigenous downstream operator, has said the downward review of the pump price of Premium Motor Spirit (petrol) by the Federal Government will not affect loading of the product at its depot.

Photo: The Punch

In a statement on Wednesday, the firm said activities at its depot were on without any hitch, and that it would not allow sharp practices by any of its outlets managers.

It added, “We shall continue the monitoring until full compliance as a responsible organisation. Loading of products is continuing as stations without stock are making arrangement to pick supply immediately.

“All our retail outlets in Abuja and environs (three in all) have complied with the new pump price, and our technical department, in charge of monitoring stations to ensure compliance and correct filling, will swing into action tomorrow in Lagos and Ogun state to confirm proper compliance . We will ensure nobody is short-changed at any of our branded stations by way of buying the product at old price.”

All of its over 150 outlet managers, it noted, had been directed to comply immediately as “they would be sanctioned should we hear of any awful developments.”

Meanwhile, the company has urged operators in the petroleum industry to take health, safety and environment issues seriously, saying good HSE approach was very critical to advancing the industry.

It reiterated this when it won the best safety-compliant terminal award for the fourth consecutive year at the Nigeria Ports Authority honours’ event for tank farm and jetty operators in the nation’s coastline for 2014.

It maintained that HSE issues should be given first-hand attention because failure to do so could result in huge loss of lives and property.

– The Punch

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