Nipco reassures stakeholders of steady fuel supply 
Nipco plc, an indigenous integrated downstream operator, has assured petroleum product marketers across the country of continuous availability of these products at its fuel depot. The company, which has storage facility of over 60m litres at the terminal in Apapa, Lagos said conscious
efforts have been made to ensure that it maintains its vision of being the first choice enterprise in the oil and gas industry to all stakeholders.
According to the company, it has put in place concrete steps to ensure that it remains wet at all times in the overall interest of its customers who have remained steadfast with the organisation for the past seven years.
The assurance of good supplies of petroleum product is in fulfillment of the pledge of the company to its esteemed shareholders at the recently concluded Annual General Meeting. The company floated by over a thousand Independent fuel marketers under the aegis of Independent Petroleum Marketers of Nigeria (IPMAN) with the support of a core investor- Purebond Limited, United Kingdom, has remained a major source of petroleum products to over 80 percent of service stations across the country.
It has over the years relied majorly on two streams of supply chain namely: allocation of products from Pipelines and Products Marketing Company (PPMC) as a depot operator and direct importation as one of the key players in the sector- which forms a larger chunk of the products the company stores and dispenses.The desire to meet the dreams of the promoters of the company who are largely indigenous fuel marketers has been the driving force of the organisation, hence, our quest to go the extra mile to meet their supply needs in the downstream sector of the nation's oil and gas industry.
Nipco explained that in the past few years, the company has made conscious efforts to augment direct supplies from PPMC as a reliable and tested depot operator with massive importation of Premium Motor Spirit (PMS), otherwise referred to as Petrol and Automotive Gas Oil (AGO) to the delight of its stakeholders."In 2011 and beyond, we intend to enhance our importation of petroleum products in our quest to meet our esteemed needs as well as prepare adequately for the upcoming reforms in the oil and gas industry," it said.
It is against the foregoing that it has re- assured all stakeholders, especially independent fuel marketers that their interest in the realm of uninterrupted product supplies and meaningful reforms on investment as shareholders is guaranteed. Nipco has also continued to serve the needs of the country with the same zeal and enthusiasm as ever even as the organisation reassured stakeholders that their demand for petroleum product will be continuously met. In the same vein, the depot was able to dispense well over 1.2 billion liters of petroleum products in 2010 to its esteemed customers across the country through over 3,000 registered marketers doing business with the organisation.
