Adedapo Adesanya
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Retail Limited has signed a products and purchase agreement with an indigenous modular refinery, Azikel Petroleum Limited.
The agreement will see the retail arm of the state-owned oil firm procure petroleum products, including Premium Motor Spirit (PMS), otherwise known as petrol, and Automotive Gas Oil (AGO), also known as diesel, from Azikel Petroleum Limited’s 12,000 barrel-per-day hydro-skimming refining complex situated in Obunagha, Gbarain, Yenagoa LGA of Bayelsa State.
The agreement was signed for NNPC Limited by the Managing Director of NNPC Retail Limited, Mr Huub Stokman, while the Chairman of Azikel Petroleum Limited, Mr Eruani Azibapu, signed for the indigenous refinery.
According to a statement on the NNPC Limited on its official X handle, the alliance aims to enhance the distribution and availability of petroleum products across the nation, marking an important step in fostering economic growth and energy security.
On Azikel’s part, the partnership is part of its effort to revert Nigeria’s status as a net importer of refined products to an exporter of refined products and crude oil.
In a related development, the NNPC retail arm also clarified rumours suggesting a price adjustment for PMS and diesel at its retail stations nationwide.
The company asserted that these reports were false and urged Nigerians to disregard them entirely.
The NNPC also reaffirmed its commitment to sustaining the current sufficiency of petroleum products supply across all its retail stations in the country.
