Queue at the filing station The President, Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
progress on the refinery site, urging the contractors to reach out for any help they might require.
In his comments, the Executive Vice President, Downstream of the NNPC, Adeyemi Adetunji, said the event marked a milestone in the history of KRPC considering that the last Turn Around Maintenance (TAM) on the refinery occurred about 15 years ago.
He stated the project was framed after extensive engagement with Daewoo on the quick-fix strategy to repair and re-stream KRPC and operate it on a sustainable basis at a minimum capacity utilization of 60 percent.
“This project shall be executed in three work packages as a maintenance services contract by Daewoo E&C Nigeria Limited at an estimated maximum cost ceiling with a duration of 21 months.
“The quick-fix strategy guarantees the fastest route to re-streaming WRPC and KRPC for in-country production of refined petroleum products.
But reacting to this development, Kunle Olubiyo, President of the group, Nigeria Consumer Protection Network in a statement made available to Business Standards Saturday, described the deal as mischievous, misdirected and outright waste of public funds.
According to him, the former Minister of state for Petroleum Resources, Ibe Kachukwu,in 2015 invited the original companies that built the Kaduna Refinery, Warri Refinery and Port Harcourt Refinery with a view to resuscitating and guaranteeing supply that would meet up the 50% domestic obligations in line with OPEC benchmarks..
The project, he said turned out to be a huge gimmick and failure.
He reasoned that NNPC pre-enactments of the Petroleum Industry Act was not envisaged to be a market competitor or market player that would help sustain market monopoly.
He added that the NNPC has failed Nigerians and the entire nation woefully.
“The NNPC is simply trying to cash out and mop up funds. It should have waited for the incoming administration to take a decision on that.
“NNPC as it were and in its present forms is a total economic failure and has let Nigerians down. We had expected NNPC to bury its head/face in shame. This is an insult and abuse of the sensibility and sensibility of the public, citizenry, and Nigerians as a whole. This is outright irresponsibility.
“For over 15 years, NNPCL has remained unproductive, increasingly expanding over bloated worker force. It has remained a parasitic drain in the Nation’s Well being and scarce resources, It has increased the cost of funding its over-bloated bureaucracies and a clog in the wheel of progress in the post-Petroleum Industry Act energy ecosystem”.
He implored President Muhammadu Buhari to issue a presidential directive to NNPCL to reverse itself on the maintenance contract in the overall public interest.
In his comments, the Executive Vice President, Downstream of the NNPC, Adeyemi Adetunji, said the event marked a milestone in the history of KRPC considering that the last Turn Around Maintenance (TAM) on the refinery occurred about 15 years ago.
He stated the project was framed after extensive engagement with Daewoo on the quick-fix strategy to repair and re-stream KRPC and operate it on a sustainable basis at a minimum capacity utilization of 60 percent.
“This project shall be executed in three work packages as a maintenance services contract by Daewoo E&C Nigeria Limited at an estimated maximum cost ceiling with a duration of 21 months.
“The quick-fix strategy guarantees the fastest route to re-streaming WRPC and KRPC for in-country production of refined petroleum products.
But reacting to this development, Kunle Olubiyo, President of the group, Nigeria Consumer Protection Network in a statement made available to Business Standards Saturday, described the deal as mischievous, misdirected and outright waste of public funds.
According to him, the former Minister of state for Petroleum Resources, Ibe Kachukwu,in 2015 invited the original companies that built the Kaduna Refinery, Warri Refinery and Port Harcourt Refinery with a view to resuscitating and guaranteeing supply that would meet up the 50% domestic obligations in line with OPEC benchmarks..
The project, he said turned out to be a huge gimmick and failure.
He reasoned that NNPC pre-enactments of the Petroleum Industry Act was not envisaged to be a market competitor or market player that would help sustain market monopoly.
He added that the NNPC has failed Nigerians and the entire nation woefully.
“The NNPC is simply trying to cash out and mop up funds. It should have waited for the incoming administration to take a decision on that.
“NNPC as it were and in its present forms is a total economic failure and has let Nigerians down. We had expected NNPC to bury its head/face in shame. This is an insult and abuse of the sensibility and sensibility of the public, citizenry, and Nigerians as a whole. This is outright irresponsibility.
“For over 15 years, NNPCL has remained unproductive, increasingly expanding over bloated worker force. It has remained a parasitic drain in the Nation’s Well being and scarce resources, It has increased the cost of funding its over-bloated bureaucracies and a clog in the wheel of progress in the post-Petroleum Industry Act energy ecosystem”.
He implored President Muhammadu Buhari to issue a presidential directive to NNPCL to reverse itself on the maintenance contract in the overall public interest.
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