BARU TALKS TOUGH: WE’LL DISPENSE FREE OF CHARGE PRODUCTS HOARDED BY MARKETERS

IBEFUN, Ogun, Nigeria – Group Managing Director of the Nigerian Petroleum Corporation, NNPC, Dr. Maikanti Baru has read the riot act to marketers across the country, warning that it will dispense free of charge to members of the public products hoarded by marketers.

Baru who spoke in Ibefun, Ogun State said unfounded fear was responsible for hoarding of fuel by marketers resulting in the resurgence of queues at filling stations nationwide.

“Henceforth, the Department of Petroleum Resources (DPR) is to monitor product sales across the country and dispense free of charge products hoarded by marketers”, he said.

He commended Petrolex Mega Oil & Gas City investment in Nigeria, which has a 250,000 barrels per day capacity refinery, estimated to cost 3.5 billion dollars, a lube plant which cost was put at 8.5 million dollars, a, Tank Farm with 300 million capacity to turnover 600,000 million litres/month and a Gas Processing Plant to produce 50,000 Liquefied Petroleum Gas, LPG cylinders to make LPG gas more affordable as well as MarshalingYard, with 4,000 capacity trailer park in Ibefun would be located within the complex.

He said the investment is a clear testimony of ingenuity of indigenous companies and demonstration of capacity to support government reform drive.

Baru promised to fully support the company to realise its set objectives as the investment will go further to achieve its target of ensuring uninterrupted products distribution. The GMD also used the occasion to assure the nation that government has no intention to increase pump price of petrol.