05 May 2016, Lagos – Nigerian National Petroleum Corporation, NNPC, said it is making moves to make Nigeria self-sufficient in the supply of petroleum products, as the country suffers from constant fuel shortages.
The Group Executive Director/Chief Operating Officer, GED/COO, Commercials, NNPC,Dr. Babatude Adeniran, said this during the recently concluded, African Modular Refinery Seminar in Lagos.
Adeniran said: “The current situation being experienced by the general public with respect to the lingering scarcity, calls for a new thinking towards making the country self-sufficient in the supply of petroleum products.
“NNPC has commenced the process of increasing the refining capacity of the existing refineries through co-locations of private refining infrastructure. This is to balance the country’s needs, as importation of petroleum products doesn’t create jobs, rather it causes loss of tax income to the government, and also creates a large amount of emotional backlash when people have to queue for days looking for fuel.”
Adeniran, who was represented by the General Manager, Business Development, Downstream, Mr Luke Anaele, also said: “Nigeria is a top African producer of crude oil, and a leading member of the Organisation of the Petroleum Exporting Countries, OPEC. But for some years now the issue of inadequate fuel supply to power and sustain the growth of the nation’s economy has eluded us.”