By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) has disclosed that it would pay close watch on operations of its downstream retail subsidiary, NNPC Retail Limited, to optimize operational efficiency in the delivery of petroleum and allied products to customers across the country.
The state-owned oil firm said in a statement issued yesterday by its spokesman, Mr Ndu Ughamadu, that it was already activating fresh measures to achieve this goal.
“The target is to ensure that lessons garnered from the recent fuel availability challenge are imputed into the fuel supply and distribution matrix for greater efficiency and closer scrutiny of the operations of all our retail outlets to enforce stricter compliance with the rules of engagement for the good of consumers,” the corporation said in the press statement.
Last November, consumers of Premium Motor Spirit (PMS) commonly called petrol, suffered acute shortage of the product, forcing them to have horrible Christmas and New Year celebrations.
The fuel scarcity extended till late February before the commodity became surplus again across the country.
But the NNPC said to avoid this in the future, it the measures it was putting in place would entail closer scrutiny and supervision of the operations of NNPC mega and affiliate retail outlets strategically clustered in major cities and towns throughout the country.
The NNPC also disclosed that it had amicably ended its lease agreement with the owners of the Super Mega Petrol station along the Abuja Airport Road.
NNPC said with the cessation of the agreement which took effect from Sunday, April 15, 2018, NNPC Retail and the owners of the station are concluding the hand over process in line with the terms of the amicable pact.
While acknowledging the contribution of the station in providing products to teeming customers along the Airport Road during the trying period, the corporation assured motorists along the axis that seven other affiliate stations had been sufficiently mobilized to provide for their products consumption needs.
The oil agency also added that its retail subsidiary is working assiduously to expand its footprints in Abuja and adjoining towns as recently directed by the Group Managing Director, Mr Maikanti Baru.
more recommended stories
N46.25bn Treasury Bills Mature This Week
By Dipo Olowookere On Thursday, treasury.
Naira Gains 0.01% at I&E, Loses 0.13% at Interbank
By Dipo Olowookere The performance of.
Guinea Insurance Seeks More Time to File FY 2018, Q1 2019 Results
By Dipo Olowookere The management of.
FarmCrowdy, Livestock247 Partner to Boost Trading
A partnership aimed to deepen the.
Why You Should Consider Investing in Eurobond Funds
By United Capital Research Last week,.
Zedcrest Capital’s Amzat, Others to Speak at Lagos FINTECH Week
Group Managing Director of Zedcrest Capital.
Buhari to Empower 10m Traders, Farmers During Second Term
By Modupe Gbadeyanka No fewer than.
Africa Prudential Considers New Ventures to Improve Earnings
By Modupe Gbadeyanka Managing Director/CEO of.