Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

NNPC set to meet December 2019 deadline on petroleum product importation

Adaobi Nnadiukwu by Adaobi Nnadiukwu
January 8, 2019
in Business News, Currencies
Nigerian National Petroleum Corporation

Dr Maikanti Baru

Share on FacebookShare on TwitterShare on Linkedin

The Nigerian National Petroleum Corporation (NNPC) has affirmed that it is keen on meeting its December 2019 deadline proposed by the Federal Government to end the importation of petroleum products.

This will be a progress, seeing Nigeria spends a lot on the importation of petroleum products. In the third quarter of 2018 alone, Nigeria imported 5.56 billion litres of refined petroleum, which is a 5 per cent increase quarter on quarter.

This ultimately means its recent agreement with the British Petroleum (BP) might be the last of it if all plans go well.

RelatedPosts

Petroleum minister, Timipre Sylva, says Nigeria loses 400,000 barrels per day to oil theft

Nigerian Navy has recovered 230,000 barrels of stolen crude oil since April 2022

The Group Managing Director of NNPC, Dr. Maikanti Baru, said that measures had been taken to achieve the target at the Offshore Technology Conference 2018 Nigeria Oil Industry award dinner in Houston, Texas, United States.

He stated that tendering exercises for companies interested in the rehabilitation programmes of the nation’s four refineries using a contractor-financing model had been completed and successful companies for the different projects would soon be announced.

News continues after this ad


“This model is expected to be a self-sustaining financial model with near zero reliance on the Federal Government funds. For smooth running and implementation, we are also changing the operating and commercial framework of the refineries to make them work efficiently and be commercially viable”, he said.

About NNPC

Nigerian National Petroleum Corporation (NNPC) was created by the merger of Nigeria National Oil Company (NNOC) and the Ministry of Petroleum Resources in accordance to decree 33 of 1977. NNPC is a Federal Government owned corporation that is responsible for the management of the nation’s oil resources. In addition to this, the corporation was given powers and operational interests in refining, petrochemicals and products transportation as well as marketing.

Between 1978 and 1989, NNPC constructed refineries in Warri, Kaduna and Port Harcourt and took over the 35,000-barrel Shell Refinery established in Port Harcourt in 1965. They have about 22 depots across the country.

Related

Tags: Maikanti BaruNNPC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Gains from MTN not enough to stop Nigeria’s stock market from shedding N95 billion
    • ChamsSwitch gets Visa recognition, enlisted on Visa Global Registry
    • 3 ways to solve electricity crisis in Nigeria – Atiku Abubakar

    Follow us on social media:

    Recent News

    Stock News

    Gains from MTN not enough to stop Nigeria’s stock market from shedding N95 billion

    August 19, 2022
    ChamsSwitch gets Visa recognition, enlisted on Visa Global Registry

    ChamsSwitch gets Visa recognition, enlisted on Visa Global Registry

    August 19, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com