*Buhari okays inter-ministerial panel to fast-track NNPC reforms
06 January 2016, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, has disclosed that the nation’s three refineries in Kaduna, Port Harcourt and Warri have attained a combined daily production of over 6.76 million litres of petrol per day adding that combined output is projected to increase to over 10 million litres per day by the end of the month.
According to a statement released by the Corporation, while Port Harcourt Refinery which was re-streamed a week earlier is producing some 4.09 million litres, the Kaduna Refinery is contributing 1.29 million litres and Warri which was re-streamed on Sunday is posting 1.38 million litres.
NNPC confirmed that the petrol volumes from the refineries which are currently operating at an appreciable percentage of their nameplate capacities will help stabilise fuel supply and distribution situation in the country.
In the meantime, President Muhammadu Buhari yesterday said an inter-ministerial committee will be established to speed up the re-organisation and reformation of the Nigerian National Petroleum Corporation (NNPC).
Speaking at the Presidential Villa, Abuja, during a meeting with the Chief Executive Officer, International Finance Corporation (IFC), Jin-Yong Cai, he said the reformation of the NNPC had become inevitable in view of the massive corruption and abuse of its present structure.
A statement endorsed by Buhari’s Special Adviser on Media and Publicity, Femi Adesina, also stressed the need for the country to maximise revenue from every source as a further imperative for reforming the NNPC.
He said the president was doing everything possible to boost national revenue so that the government can effectively implement its programme of change and significantly improve the living conditions of Nigerians.
Mr. Jin-Yong Cai, who is also the Vice President of the IFC, told President Buhari that with proper reform and re-organisation, NNPC could become Africa’s largest company.
“You have brought monumental changes since you got to power. You have brought in strong leadership and Nigeria has the opportunity under you to become highly reputable.
“In NNPC, you can create an entity that is dominant in Africa, and this is the right time to do it, with the momentum you have created,” he was quoted to have said in the statement.