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Tag: Ndu Ughamadu

No plans to increase petrol price – NNPC

The Nigerian National Petroleum Corporation (NNPC) has reiterated that it has no plans to increase the pump price of petrol.

NNPC made the denial in a statement by Mr Ndu ughamadu, its Group General Manager, Group Public Affairs Division.

The statement explained that the recent increase in bridging allowance to transporters from N6.20 to N7.20 per litre would not lead to an increase in the pump price.

”There is no plan by government or any of its agencies to review the pump price of petrol above N145 per litre.

”The rise in the bridging cost was achieved after an adjustment was made in the “lightering expenses” from N4 to N3 per litre and the difference transferred to compensate for the cost of bridging within the same templat.”

Bridging allowance refers to the cost element built into the products pricing template to ensure a uniform price of petrol across the country.

Lightering expenses involve charges for moving products to depot area from mother vessels by light vessels due to the inability of the former to berth in shallow water depth.

”What happened, in simple language, is a rebalancing of the margins allowed and approved for stakeholders.

”So what the Petroleum Products Pricing Regulatory Agency, PPPRA, did was to take N1 from lightering expenses and add same to the bridging allowance.

”That is how we arrived at N7.20. Therefore, PMS remains at the ceiling of N145 per litre,’’ it said.

On the product supply, thr statement said as at Wednesday, the country had 1.3 billion litres of petrol which translated to an inventory of 36 days.

“What this means is that even if we stop importation or refining of petrol right now, we have enough products in-country to provide for the needs of every Nigerian for a period of 36 days.’’

It noted that the supply availability was bolstered with the production of petrol from the three refineries in Port Harcourt, Warri and Kaduna.

“There is absolutely no risk of shortage in supply as we also continue to import to support the production from the refineries.

”we have informed the Department of Petroleum Resources to enforce the prevailing N145 per litre price regime and also ensure that every service station that has fuel is selling to the public,’’ he said.

It reiterated the readiness of the NNPC Management, under the leadership of Dr Maikanti Baru, to sustain the existing cordial relations among the NNPC, the leadership of the downstream industry unions and other stakeholders.

It also said the DPR had been alerted to sanction fuel station owners who engageD in hoarding or charged consumers above the approved pump price of petrol.

There had been fears that the pump price of petrol would increase following the increase in bridging costs to appease tanker drivers who went on strike to demand better working conditions.

April 6, 2017
NNPC vows to find lasting peace in Niger Delta

The Nigerian National Petroleum Corporation (NNPC) on Sunday vowed to continue to find sustainable solution to the challenge posed by insurgency in the Niger Delta.

The NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, said this in a statement issued in Abuja.

“The Corporation has created security management platforms that would enable it identify and evaluate risks, develop and superintend implementation of investigations.

“The platform will also aggregate and deploy necessary resources to guarantee peaceful business environment in the region,” Ughamadu said.

Quoting the NNPC Group Managing Director, Dr Maikanti Baru who addressed staff during an end of year message, the spokesman said the corporation was committed to implementing a robust security.

“’The Corporation is committed to implementing a robust security and stakeholders’ strategy that would ensure that peace reigned in the industry operational areas.

‘“Dr Baru attributes the recent increase in the country’s oil and gas reserves to 37 billion barrels and 192 trillion cubic feet, respectively, to the relative peace that was instituted in the Niger Delta.

“’Over the year, NNPC adopted strategies to ensure the Corporation’s operational profitability, renegotiation of all existing contracts to achieve substantial value realisation of between five and 30 per cent discounts.

“This singular effort alone translated to substantial cost savings in favour of NNPC,” Ughamadu said.

He said NNPC had commenced the implementation of a 12-key Business Focus Areas developed by its Management Team to enhance the corporation’s business performance.

In addition, he stated that a team had put in place structures that would enable smooth implementation of new business models for its Strategic Business Units and companies nationwide.

Ughamadu lauded President Muhammadu Buhari and Dr Ibe Kachikwu for providing enormous support to reposition NNPC.

December 26, 2016
NNPC appoints, redeploys management staff

The Nigerian National Petroleum Corporation, NNPC, has announced the appointment and redeployment of top Management staff across board in a major exercise said to be designed to reflect operational realities and ensure sustained performance and profitability.

In a podcast to the staff, Group Managing Director of the Corporation, Dr. Maikanti Baru said that the changes were informed by the desire to consolidate on the restructuring exercise through realigning jobs with requisite competences and experiences in line with international best practices, while taking deliberate measures to ensure fairness and equity as well as the capacity to deliver.

“As you might have heard, His Excellency Mr. President has approved the High Level Organogram of the Corporation and appointment of Staff into various positions. Most importantly, the changes were done in the spirit of entrenching professionalism and accountability which is a cardinal principle of our 12 Business Focus Areas which are hinged on the slogan moving NNPC Forward…Together,” he said.

While calling on staff members to support the ongoing restructuring efforts, the GMD noted that NNPC has made some progress in the implementation of the 12 Business Focus Areas.
“We can now deliver crude to our refineries, we have stabilized fuel supply across the country, Frontier Exploration Services and Integrated Data Services Limited have mobilized to the Benue trough and will soon resume activities in the Chad basin,’’ he said.

In all, 109 Management staff were promoted while 24 were redeployed in the exercise which saw the return of veteran journalist, Ndu Ughamadu as Group General Manager, Group Public Affairs Division. He takes over from Garba Deen Muhammad.

November 15, 2016