NNPC Targets 15% Downstream Market Share, Builds Three New Mega Stations

Chineme Okafor in Abuja

The Managing Director of the Nigerian National Petroleum Corporation (NNPC) Retail Limited, Mr Yemi Adetunji, on Tuesday disclosed that the downstream retail subsidiary of the corporation has set its sights on taking and satisfying about 15 per cent of Nigeria’s downstream petroleum market share in the next one year.

Adetunji said during a press briefing in Abuja to announce the subsidiary’s imminent commissioning of a new mega filling station it built along the Lagos – Shagamu Expressway in Ogun State, that it currently has 14 per cent of the market share under its belt, but would next want to grow it to 15 per cent.

He also explained that between four and five per cent of the country’s Liqufied Petroleum Gas (LPG) market was under its control, but it would shortly grow that market share to 10 per cent to advance the federal government’s plan to promote LPG usage in the country.

Adetunji stated that in line with the 12-Business Focus Areas (BUFA) of the corporation, the subsidiary company embarked on the construction of mega stations across the country, adding that two more new mega stations in Port Harcourt, Rivers State and Yenagoa, Bayelsa State would be inaugurated in the last quarter of 2017 and first quarter of 2018 respectively.

“It is a state-of-the-art 22-nozzle station. It has a bigger capacity, would be 24/7 open, available at all time. It is much bigger and can serve more vehicles conveniently at the same time. It has room for expansion to build a hotel and park tankers for drivers that want to relax and lay over. It is along Lagos-Ibadan expressway,” he said about the Lagos – Shagamu Expressway mega station which is expected to be opened on Thursday.

Details later…