Obasanjo gives NNPC thumbs up for ensuring National Energy Security

Former President, Chief Olusegun Obasanjo, has commended the Management of the Nigerian National Petroleum Corporation (NNPC) for ensuring an uninterrupted supply of petroleum products which he noted was an integral part of energy security in the country.

“I am glad that our vision, when we established NNPC Retail is now being achieved,’’ he said.

In a speech presented on his behalf by an aide to the former President, Chief Idowu Akanle, at the formal opening of an ultra-modern mega fuel station along the Sagamu Interchange on the Lagos-Ibadan Expressway, Chief Obasanjo        stated that the erection of new fuel outlets would not only guarantee product supply but was also a means of creating jobs and boosting the economy to ensure that the lives of many Nigerians are touched in many positive ways.

The former President also noted that based on its rising profile in product availability and efficient customer delivery, NNPC was indeed living up to expectations.

In his address at the event, Group Managing Director of the NNPC, Dr. Maikanti Baru, remarked that the concept of the Mega station which took roots in August 2002 under the Obasanjo Presidency, had become an indispensable part of the Corporation’s downstream portfolio.

He said the NNPC was poised more than ever before to elongate the entire oil and gas value chain by revamping its depots, pipeline network and establishing more NNPC Retail outlets nationwide, thereby stabilizing the Downstream Petroleum Sector.

Baru stated that the NNPC Retail’s ultra-modern mega station being commissioned was in line with the Corporation’s vision and by extension the vision of Mr. President that we continually add value across the entire oil and gas value chain.

He added that the new station had a total storage capacity of 500,000 litres of petroleum products which could be dispensed from its 22 nozzles.

“It has 22 nozzles made up of 14 for Premium Motor Spirit (PMS), four each for Automatic Gas Oil, (AGO) and Dual Purpose Kerosene(DPK) and 10 tanks of 50,000 liters each. The station has the capacity to store 3,000,000 liters of PMS, 100,000 liters each for AGO and DPK. This is expected to satisfy the teeming motorists’ quest for high volume, quality and shorter vehicle fuelling cycle time on this ever-busy Lagos-Ibadan Express way’’, he said.

Earlier in his welcome address, Managing Director of NNPC Retail, Mr. Yemi Adetunji, remarked that the Company had metamorphosed from a mere department of seven staff under the then Property Division of the NNPC into a fully-fledged downstream player with significant market share garnered within the last 15 years of its existence.

Ogun State Commissioner for Commerce and Industries, Bimbo Ashiru, who stood in for the governor thanked the Corporation for locating the first NNPC ultra-modern mega station in the state, noting that the government and people of Ogun State are willing and ready to host more of such facility.