In its bid to cushion effect of deregulation on Nigerians, the Nigerian National Petroleum Corporation (NNPC) has disclosed that plans had been concluded to set up Compressed Natural Gas (CNG) refill stations for motorists across the country.
It explained that the move had become imperative as part of the national oil company’s commitment toward supporting ongoing initiatives by the Ministry of Petroleum Resources to provide an alternate energy source to Nigerians after increase in pump price of petrol.
The NNPC Group Managing Director, Mele Kyari, said that the corporation keyed into the gas penetration agenda as championed by the Honourable Minister of Petroleum Resources, Timipre Sylva, to give Nigerians breath of fresh air.
Speaking on TVC Business Show, Business Nigeria Live, according to a statement released to newsmen on Sunday by the NNPC Spokesperson, Kennie Obateru, the GMD said that the corporation would continue to work with other stakeholders in the industry to provide viable alternatives to petrol which would ultimately lead to reduction in demand for the product and eventual reduction in price.
Furthermore, Kyari reiterated the commitment of the corporation towards openness and greater transparency in its operations, noting that in the months ahead NNPC would make public its 2019 Audited Financial Statements as a sequel to the 2018 AFS released in June.
Kyari also clarified the status of the nation’s refineries, noting that the plants were deliberately shut down to allow for a robust diagnosis of the issues which have overtime made it impossible for the facilities to operate up to their nameplate capacity.
“The shutdown also became inevitable due to difficulties in feeding them with crude oil via the pipelines that have been completely compromised by vandals.
“The Corporation was moving rapidly to execute complete rehabilitation of the refineries under an exercise that would guarantee restoration of the facilities to at least 90 percent capacity utilization,’’ the statement quoted him as saying.