•Kyari rules out fuel queues this year
Sunday Aborisade in Abuja
The Senate President, Godswill Akpabio, has tasked the management of the Nigerian National Petroleum Company Limited (NNPCL) to seek ways of deepening the consumption of locally produced petroleum products.
He also called for the establishment of modular refineries, as well as the renovation of existing ones, “to create a multiplier effect which will include creation of jobs for our teeming youths, and more security for the country.”
Akpabio, spoke when the leadership of the NNPC Limited led by its Group Chief Executive Officer, Mele Kyari paid him a courtesy visit in Abuja.
He also explained efforts by the Upper Chamber of the National Assembly to end oil theft and pipeline vandalisation which, according to him, was costing the nation revenue losses.
The Senate President revealed that the Red Chamber would partner with the NNPCL in creating legislations that would smoothen ease of business for stakeholders in the oil and gas sector.
He commended the Corporation for ensuring an end to the fuel subsidy regime.
The Senate President called for capacity building for legislatures to ensure proper legislative input in the sector.
He told the delegation from the national oil company that, “Nigerians want to hear good news and you came with a very good news. And this is good news.”
He expressed satisfaction at the resolution of the deficit in the account of the Corporation, adding that the Senate was, “a people focused Senate” that is set to bring benefits to Nigerians.
Kyari, assured the Senate that in three months the country will not see fuel queues.
The NNPCL GMD said that the passage of the Petroleum Industry Act (PIA) has ensured that “energy supply is stable, creating cheaper energy” for Nigerians.”
He disclosed that the Corporation has “robust supply plants from now until next year; we have always planned for three months. And I guarantee you your Excellency that we will not see any shortages in our country.”
“You may see a number of scattered reports that of filling stations that people will call it queues. They are not.”
He also revealed that the national oil company occupies over 30 percent of the downstream sector in the oil and gas business, adding that the corporation will “optimally provide” petroleum to consumers.
While linking the challenges in the sector to oil theft and pipeline vandalisation, Kyari said the country has recovered up to N1.7 million barrels of crude oil following increases monitoring and supervision of the facilities by independent pipeline security companies, and the military.