Nigeria’s state-owned oil company, the Nigeria National Petroleum Corporation, NNPC wants to start another company

Guess what the new company will be doing?

According to NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, the new company will be used to provide refueling services to ships and other sea vessels.

Also Read: Nigeria Imported 6.5 billion Litres Of Fuel In 3 Months

Ughamadu said it was the Group General Manager, NNPC Shipping, Aisha Katagum, that disclosed this.

Katagum was quoted as saying: “Actually, the NNPC Group Managing Director is also very keen on that. He has directed the Corporate Planning and Strategy Division to come up with a business model for us to see how it could operate.”

She said the bunkering subsidiary was most likely going to be an incorporated company like Nidas, a subsidiary under NNPC Shippping, adding that the proposed company might be domiciled in the NNPC Shipping Division too.

On the prospect of the company, she said: “I’m sure it’s going to be a big business because we have so many vessels that come into the West African Coast. This year alone, over 120 vessels have brought imports for us.”

Already, there are two other downstream subsidiaries under the NNPC Shipping Division - Nikorma and Marine Logistics.

While Nikorma engages in shipping and transportation of energy products, Marine Logistics on the other hand, provides logistics services to the crude and petroleum products and gas sub-sector, with a mandate to effect demurrage reduction and ensure that there is safe and efficient coastal distribution of petroleum products.

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