Why NNPC wants to build more filling stations to sell cheaper fuel

• The Nigerian National Petroleum Company Limited (NNPC) has disclosed plans to build 100 CNG stations nationwide
• The company said it also plans to build three LPG stations in Ajaokuta to guarantee Nigeria’s energy needs
• The Group Chief Executive Officer of NNPC, Mele Kyari, disclosed this at the commissioning of 12 CNG stations in Lagos and Abuja

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

The Nigerian National Petroleum Company Limited (NNPC) has unveiled plans to build about 100 Compressed Natural Gas (CNG) and three liquified natural gas (LNG) stations across the country in 12 months.

Mele Kyari, the Group Chief Executive of NNPC, disclosed this at the commissioning of 12 CNG stations built in partnership with NIPCO Gas in Abuja and Lagos and said the drive to bring CNG closer to Nigerians has commenced irreversibly.

NNPC plans more CNG stations across Nigeria Credit: Novartis
Source: UGC

Nigeria commences transition to CNG use

The NNPC boss said in addition to the massive deployment of CNG stations nationwide, the Nigerian oil company and its partners would also establish three LNG stations in Ajaokuta.

Kyari said:

He commended President Bola Tinubu for providing the required support to drive domestic gas use to deliver cleaner and cheaper energy sources to Nigerians.

NNPC to build more stations for cheaper fuel

Kyari reaffirmed the NNPC’s determination to guarantee Nigeria’s energy security.

The Guardian reports that the Managing Director of NNPC Retail Limited, Huub Stokeman, disclosed that in the next 12 months, the company will launch over 100 CNG sites, including the 16 NNPC Gas Marketing at NIPCO Gas JV sites.

The report said that the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, said the commissioning of the stations would provide economic benefits such as job creation, stimulate local economies, and contribute to Nigeria’s goals of reducing emissions and fighting climate change.

NNPC denies owing marketers $6 billion

A recent report by Reuters said that the NNPC owes about $6 billion in backlog payments to oil marketers in Nigeria.

The NNPC dismissed the report, calling it fake news and stating that it does not owe marketers the amount stated.

Legit.ng reported that Nigerian oil marketers have hiked their ex-depot costs, causing fuel queues to resurface in parts of the country.

The marketers said they might raise petrol prices nationwide after the depot price increase.

NNPC Reports increase in oil production

Legit.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in Nigeria's oil production.

According to Mele Kyari, the NNPCL's group chief executive officer, Nigeria now produces 1.7 million barrels per day.

This represents a significant increase compared to the 1.28 million barrels per day reported in April.

Source: Legit.ng