NNPC moves to grab more downstream market share

By Ruth Olurounbi
Plans are underway for the Nigerian National Petroleum Corporation (NNPC) to expand its market share beyond its existing 14% share of the downstream sector, corporation’s Group Managing Director, Dr Maikanti Baru, said Thursday without specifying what percentage of the market it is aiming to corner.

“Currently, NNPC is expanding and integrating our gas pipeline network system to meet the unprecedented domestic gas demand. We have recorded significant progress in the execution of key on-going gas pipeline infrastructure projects (ELPS II, OB3),” he said.

Baru also said that the corporation has expanded its retails outlets acrosss south west Nigeria, specifically the “the newly constructed ultra-modern mega station along the Lagos-Ibadan Expressway,” adding that NNPC has started the process of rebranding some critical midstream entities such as the NGC, NGMC, NGPTC, GPIC and NOFS and is “repositioning them all for global competitiveness in line with the 12 Business Focus Areas of our administration.

“All these activities, we strongly believe, will invariably impact positively on the Nigerian economy in view of the role of the Oil and Gas Industry as the number one foreign exchange earner for the country and given the position of our corporation as managers of government interests in the sector.”

Accordingly, the corporation “is leaving no stone unturned to ensure that Nigerian Pipeline and Storage Company (NPSC) already existing infrastructure are rehabilitated and new ones added as necessary steps to guaranteeing efficient storage and distribution of petroleum products across the nation, thereby ensuring supply reliability and energy security,” Baru said in Lagos, at an ongoing International Trade Fair in Lagos.


Written by Per Second News

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