The Nigerian National Petroleum Corporation (NNPC) Thursday admitted that it does not know the actual daily consumption of Premium Motors Spirits (PMS) otherwise called fuel in the country.
Engr. Ikem Obih, the Chief Operating Officer, Downstream of the NNPC, who disclosed during a panel session at the ongoing 2018 Nigeria Oil & Gas Conference and Exhibition held in Abuja, attributed the development to trans-border smuggling and other factors.
He added that the NNPC was working with the Ministry of Finance to arrive at a verifiable national daily consumption figure.
He disclosed that as part of the commitment of the GMD to reduce the challenges posed by trucks on the nation’s highways, most of the NNPC pipelines were being revamped and that the Aba-Enugu line would soon be restored.
Speaking earlier at another session with the theme: “Harnessing Opportunities in Nigeria’s Downstream sector,” NNPC Chief Operating Officer (COO), Refineries, Mr. Anibo Kragha, said that the Federal the government was exploring the possibility of deploying modular refineries as a tool for eliminating illegal refineries that have constituted a menace not only to the economy but also to the environment.
Also speaking at the panel session, NNPC Chief Operating Officer (COO), Upstream, Mallam Rabiu Bello, said investment in the gas sector of the petroleum industry held the key to the accelerated development of the nation’s economy.
He urged industry stakeholders and investors to focus more on gas, as it was a cleaner and more versatile energy capable of being deployed as raw material for the production of a range of products that impact on the lives of the people more than crude oil.
He added that most of the agro-based chemicals such as fertilizers used in the country were imported, arguing that investment in gas could change that scenario and domesticate the production of fertilizers and other agro based chemicals derived from gas.
He said the multiplier effect of investment in gas such as the ongoing Ajaokuta-Kaduna-Kano (AKK) gas pipeline was responsible for the corporation’s commitment to the project, adding that more of such projects would be replicated around the country.
In his contribution, Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, commending the NNPC’s pragmatic move that has helped to restore investors’ confidence in the country.
Mr. Okunbor cited the successful exit of cash call and the clearance of the outstanding arrears by the NNPC as the strong points of the initiative.