The Nigerian National Petroleum Corporation, NNPC, has announced plans to refurbish all its existing pipeline and also double the country’s pipeline network within the next 10 years.
According to a statement, Group Managing Director of the NNPC, Mr. Maikanti Baru, stated this while inaugurating the new Board of one of its downstream subsidiaries, the Nigerian Pipeline Storage Company, NPSC, in Abuja.
Baru urged the new Board to partner with the private sector to build more pipelines parallel to the corporation’s existing ones, stating that such partnership would enhance NPSC’s profitability.
He urged the company to double its pipeline network in the next 10 years, stressing that such a target was absolutely necessary. He described pipelines as arteries of the country’s oil and gas Industry, adding that part of the reform process embarked upon by the corporation under his watch was to birth an NPSC that has a clear focus which sees pipeline storage and distribution as real business.
He said, Your work also is to look at refurbishing these pipelines and storage along a Public Private Partnership, PPP, arrangement by getting willing private companies to invest in these pipelines. NNPC Management is very much disposed to supporting your efforts in this regard.
I have a passion for this company and I believe this firm will be a leader in that segment of our operations. That is why we focused our energy on refurbishing, repairing and re-streaming of our storage facilities and pipelines over the last few months.
Baru also charged the Board to integrate, through their pipelines resources, the various butanization depots which are used as reception points for Liquefied Petroleum Gas, LPG.
We have a lot of LPG that is being exported. This could be utilized domestically in line with our vision of providing alternative energy sources for domestic and industrial use nationwide, he stressed.
He tasked the NPSC management to engage the various host state governments towards the restoration of the Products Right of Way, PRoW, to ensure the safety of the citizens and products.
He added that most of the state governments were ever-willing to support the corporation in preventing infringements on its PRoW. He expressed NNPC management’s readiness to engage security agencies against any act of economic sabotage towards the pipelines.
In his response, Chairman of the NPSC Board and Chief Operating Officer, Corporate Services, NNPC, Mr. Isa Inuwa, pledged the readiness of the Board to support the NPSC management towards achieving its set targets.
It is our vision to transit NPSC to a market-phasing, competitive and profit-making organization. We are committed as a Board to deliver on this mandate, Inuwa stated.
Also speaking, the Managing Director of the company, Mr. Luke Anele commended the NNPC, saying that although the task before his team was huge, it would nonetheless leave up to expectations.
The statement noted that aside Mr. Isa Inuwa, who is the Chairman, the new Board also has Mr. Henry Ikem-Obi, Mr. Luke Anele, Mr. Umar Ajiya, Mr. Ahmadu Sambo, Mr. Abdullahi Gunda, Mr. Ahmed Danladi, Mrs. Betty Ugonna as members and Mr. Victor Omoluabi as Secretary.
Source: Voice of Nigeria