Economy

Kano Fuel Depot Resumes Operation

  • Kano Fuel Depot Resumes Operation

The Nigerian National Petroleum Corporation on Wednesday announced that it had re-commissioning its Kano depot so as to boost the supply of petroleum products in the northern region.

The Kano depot is part of the NNPC’s System 2D pipeline network, but was knocked down three-and-half years ago by vandals.

The Group Managing Director, NNPC, Dr. Maikanti Baru, said the re-commissioning of the depot was aimed at restoring petroleum products’ supply and distribution for the benefit of Nigerians.

He was quoted as saying in a statement, “Today’s re-commissioning is also strategic as it is one of the several strides embarked upon by the NNPC under its 12 Business Focus Areas’ programme aimed at repositioning the corporation towards sustained profitability.”

Baru said the corporation spent about N1.6bn from January to December 2016 to secure and maintain the vandalised points of the Kaduna-Kano pipeline, a development that had huge implications on its operations.

He stated that the NNPC had in the last few months re-commissioned the Port Harcourt-Aba and Atlas Cove-Mosimi pipelines, adding that the corporation would not relent until all the pipeline networks in the country were back on stream.

“Efforts are underway to re-commission other national assets such as the Jos, Gombe, Suleja and Gusau depots. Also, the remaining parts of the Mosimi-Ibadan-Ilorin as well as Aba-Enugu pipelines will soon test our collective resolve to get the nation’s critical oil and gas infrastructure back on stream,” the GMD added.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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