…Tasks New PPMC Board on Profitability
As the festive periods draw near, the Nigerian National Petroleum Corporation (NNPC), has assured that it would ensure a hitch-free supply of petroleum products nationwide during the season. Group Managing Director of the Corporation, Dr. Maikanti Baru, who made the commitment yesterday during the inauguration of the Board of Directors of the Petroleum Products Marketing Company, PPMC, a subsidiary of the NNPC, charged that the Company must ensure steady supply of petroleum products even well beyond the festive periods hitherto often characterized by supply hiccups. “The festive season is fast approaching, a period when almost always, people expect queues to happen. If last year you had a queue-free festive season, we want this year’s to be a season where fuel station attendants will be inviting motorists to their stand for fueling”, the GMD charged. Dr. Baru prodded PPMC Management to re-strategized to ensure leaner operating cost that would enable it continuously add value to the NNPC Corporate entity, adding that the company was not expected to make losses. Also speaking at the occasion, Chief Operating Officer, COO, Downstream, and alternate Chairman of the Board, Engr. Ikem Obi, declared the downstream was the face of NNPC, assuring that the country would never return to the era of products scarcity. On his part, the Managing Director of the Company, Engr. Umar Ajiya, thanked the GMD for his commitment and support especially the resuscitation of depots in parts of the country, which he noted had contributed immensely to the steady supply of products nationwide. He assured that the company would be placed on the part of profitability, adding that other petroleum products would equally be made available alongside PMS (petrol). The Petroleum Products Marketing Company, PPMC, is one of the three new companies that emerged from the old Pipelines and Products Marketing Company (PPMC) after the recent reorganization of the NNPC. It is mainly saddled with marketing of petroleum products. The other two companies are the Nigerian Pipeline and Storage Company (NPSC); and Marine Logistics. While NPSC is charged with the responsible of managing storage and distribution assets of the Corporation, Marine Logistics executes petroleum products haulage for the NNPC.