Economy

NNPC Probes Lagos Pipeline Fire Outbreak

  • NNPC Probes Lagos Pipeline Fire Outbreak

The Nigerian National Petroleum Corporation has assured residents of Lagos and its environs that the supply of petroleum products will not be disrupted despite the fire outbreak in the Abule Egba area of the state.

The NNPC explained that the fire outbreak was as a result of the vandalism of a pipeline in the area, as the corporation commiserated with families of victims of the inferno.

The oil firm’s Group Managing Director, Maikanti Baru, said the fire outbreak occurred on Wednesday from a portion of the vandalised NNPC pipeline at Abule Egba in Lagos.

A statement issued in Abuja by NNPC Group The General Manager, Public Affairs, Ndu Ughamadu, stated that Baru had directed the Nigerian Pipeline and Storage Company, an autonomous business unit of the corporation, to carry out a full investigation of the incident and undertake immediate repairs of the affected part of the vandalised pipeline.

The statement said that the NNPC had put in place strategies to ensure that the unfortunate incident would not undermine products supplies during the festive period.

Baru said the NNPC had enough stock of Premium Motor Spirit, popularly called petrol, and other products, adding that the company’s petrol stock would last for about 45 days even in the absence of fresh supplies.

The GMD advised members of the public not to engage in panic buying.

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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