A time frame of 18 months has been set by Nigerian
National Petroleum Corporation (NNPC) to end
overseas refining of crude oil and boost local
production capacity that will guarantee self-
sufficiency.

The Group Managing Director of the corporation, Dr.
Ibe Kachikwu, who announced this in Abuja
yesterday at the opening of bids for Offshore
Processing Agreements (OPAs), explained that the
public opening of the bids is to ensure transparency in
the businesses of the NNPC.

His words: “I hope that this is going to be the last OPA
that the corporation will go into. Our aim is to get our
refineries to a point where they can produce the
products that we need because that is where we should
be headed. That is the target we have in the next 18
months.

I hope that at the end of this process, we will
have companies who have solid investment in this
country because this is not just a trading issue; a one-
off transaction, we must work together on the altar of
progress.”

The GMD stated that exposing the processes of NNPC
business conducts will engender confidence amongst
its publics. “This bidding process is a very important
occasion for us because these are those little steps that
ultimately lead to destination that one wants to get to. I
thought that the opening of the bids must be very
transparent and open to the public so there wont be
any impression that something sinister is going on.

The NNPC doors are opened very wide to every sector
that is aimed at bringing results that are beneficial to
the country. This is not just a cut cost to the
corporation, but it also sends the right information to
the public where the NNPC is headed.”

He also said that the corporation would continue to
tinker with what the terms would be in order for the
country to get the very best yield in the market.
On her part, the Managing Director of Pipeline
Products Marketing Company (PPMC), Mrs. Esther
Nnamdi-Ogbue, who superintend over the exercise,
said the processes were stringent to exterminate third
parties and ensure credibility of the participating firms.

Her words: “We are looking at companies that have
affiliation with refineries or access to refineries. We
will require them to show us agreements that have
been signed with refineries so that we can eliminate
third party in the arrangement. We are also looking at
those who have the muscle to support this
arrangement with a minimum turnover of those
companies to at least $1billion.

We will also be
looking at the training of Nigerians who work with the
successful companies.”
While she stressed the need to encourage participation
of local firms and pointed out that such involvement
would be done within the same platform with the
oreign firms.

“Much as we support Nigerian companies, the NNPC
and PPMC are not charity organizations. In other
words, these companies are operating with
commercial mindsets, which place high premium on
profitability.

Therefore, we will prioritize profit while
ensuring the price is right. This process entails taking
Nigeria’s crude into refineries and process it in the
refineries while we pay processing fee.

Nigerian
companies are encouraged to participate but must also
give the right price. NNPC must ensure the right price
is adhered to so as to ensure that Nigerians get the best
price at the filling stations.
Otherwise, if the process is
flawed, Nigerians are going to be made to pay for the
Shortfalls at the filling stations". She explained.
Sources:www.ngrguardiannews.com/2015/10/nnpc-plans-to-end-fuel-importation-in-18-months/

well composed. nice info op

Amen ooooooo

nairalandmaster:
well composed. nice info op

Thanks Nairalandmaster

NNPC plans to", we will" . Abeg, somebody should tell the guys to just shut up! I have been hearing this since 1976

warrior01:
NNPC plans to", we will" . Abeg, somebody should tell the guys to just shut up! I have been hearing this since 1976

calm down! It's a new sheriff.

Great news.

warrior01:
NNPC plans to", we will" . Abeg, somebody should tell the guys to just shut up! I have been hearing this since 1976

My friend you are the one to shut up that thing you call mouth. When NNPC said they were going to publish to the public their monthly earnings, didn't they go through with it?. So spare me this your "I have been hearing
this since 1976" and take a back seat.

osamaBUSH:

calm down! It's a new sheriff.

Please who is the new sheriff, if I may ask? Don't tell about the old recycled men that thunder will soon fire

It still achievable. Infact, when dangote refiery comes on board, we would hve to export petroleum.

warrior01:


Please who is the new sheriff, if I may ask? Don't tell about the old recycled men that thunder will soon fire

Just give them the benefit of the doubt before thundering them.

warrior01:
NNPC plans to", we will" . Abeg, somebody should tell the guys to just shut up! I have been hearing this since 1976

Benin is not far from here.You can go there if you are not comfortable with this govt.They will n in 18 months time?We can now judge them.I believe in this govt n I cease to b pessimistic.

I thought they said before the year runs out there wont be need for fuel importation anymore. How come they are shifting gears now? Daura dulllard is completely useless.

warrior01:


Please who is the new sheriff, if I may ask? Don't tell about the old recycled men that thunder will soon fire

With this mind set of your,It will be difficult for to move ahead.Bro!Pls keep believing.We will get there.Don't look at at the recycled men but the leadership.

Iykopee:
I thought they said before the year runs out there wont be need for fuel importation anymore. How come they are shifting gears now? Daura dulllard is completely useless.

Support your comment with a fact.Then,I believe you.PMB's regime will never be that worse compared to the previous one.

warrior01:
NNPC plans to", we will" . Abeg, somebody should tell the guys to just shut up! I have been hearing this since 1976

Do You think this is GEJ talking?

18 months is not too far, we are observing.

Even if all those old refineries start producing refined products today at full capacity, they would only be meeting 50% of our daily consumption in this country. How would the shortfall be met?

Are they going to rely on output from Dangote's proposed refinery which is not anywhere near completion yet, to bridge the shortfall? Or are they going to be setting up modular refineries? Or are they going to partner with independent exploration companies to invest and build new refining capacity?

We need actual factual details on what exactly would be done to end importation of fuel, and not just empty mindless rhetoric.