NNPC TO CHAMPION IMPLEMENTATION OF CNG FACILITIES FOR CHEAPER FUELS
As the Federal Government plans to launch cheaper fuels to ensure the success of its full deregulation regime, the Nigerian National Petroleum Corporation (NNPC) on Sunday said it would support aggressive activation of Compressed Natural Gas (CNG) refill stations for motorists across the country.
Group Managing Director of the Corporation, Mr Mele Kyari, while speaking on TVC Business Show, Business Nigeria Live, confirmed that the national oil company has already keyed into the gas penetration agenda as supported by the Minister of Petroleum Resources, Mr Timipre Sylva.
He said that as an energy company with focus on cleaner and cheaper sources of fuel, the Corporation would continue to collaborate with other stakeholders in the industry to provide suitable alternatives to petrol which would eventually lead to reduction in demand for the product and also reduction in price.
The NNPC GMD restated its commitment towards openness and greater transparency in its operations, noting that in the months ahead the Corporation would make public its 2019 Audited Financial Statements, continued from the 2018 AFS released in June.
Kyari also explained more on the status of the nation’s refineries, noting that the plants were intentionally shut down to allow for a robust diagnosis of the issues which have overtime made it impossible for the facilities to operate up to their name plate capacity.