NNPC Stockpiles 1.2 Billion Litres Of Petrol As CBN Releases Forex For Fuel Importation

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NNPC recorded N197 billion loss in 2016

The Nigerian National Petroleum Corporation (NNPC) has announced that it has in stock, a robust inland supply of over 1.2 billion litres of petrol – sufficient for more than 34 days forward consumption nationwide.

This is coming at a time when the Central Bank of Nigeria (CBN) released foreign exchange (forex) to oil marketers to import diesel and Aviation Turbine Kerosene (ATK).

The Corporation made this known in a statement issued by its Group General Manager, Public Affairs, Ndu Ughamadu on Sunday, March 19, 2017.

In the statement, NNPC stated that its petroleum product supply outlook for March to May 2017 was looking good and that it has taken adequate steps to ensure stability in supply of diesel and aviation fuel.

Ughamadu said the corporation will equally import diesel to supplement the quantities it gets from its refineries in Kaduna, Warri and Port Harcourt.

In addition, NNPC stated that it has re-commissioned its strategic 479.2km System 2B petroleum products pipeline network which stretches from the Atlas Cove in Lagos to Mosimi, Ejigbo, Ibadan and Ilorin, for the effective distribution of petroleum products nationwide, especially with the envisaged resumption of loading activities at the Mosimi, Ejigbo and Ibadan depots.

The Calabar and Aba depots, it added, have also been stocked with diesel while diesel load out from its Kano depot would commence soon.



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