PRESS STATEMENT ON THE VIST OF PEF EXECUTIVE SECRETARY

The sprawling terminal of the Nigerian Independent Petroleum Company (NIPCO) Plc has been described as a major testimony of the lofty benefits of the deregulation of the downstream sector of the Nations Oil and Gas industry.

The Executive Secretary of the Petroleum Equalization Fund (Management). Board, Mrs Adefunke Kasali made the assertion during a courtesy visit on the Managing Director of the Company, Mr Girish Sanadhya in Apapa, Lagos State.

Mrs Kasali said that the structures put in place by the company coupled with the hi-tech facilities for product receipt and the eventual loading of trucks are highly commendable and could match any other terminals in developed countries.

‘What I saw here is unparallel in the history of depot construction and management in Nigeria. In fact the only place I have seen this type of terminal was in Egypt’ she declared.

According to her, the immediate reference that can be drawn from NIPCO’s operations is that oil and gas marketing in Nigeria has moved to an enviable height that should be applauded by all stakeholders.

She noted that the Company’s loading system is not only absolutely wonderful but also a challenge to its peer in the industry especially in their quest to improve service delivery to their esteemed customers.

The PEF boss stressed that for a terminal with a capacity to load about 300 trucks of petroleum products on a daily basis meant a lot in the overall national distribution of products across the country.

While expressing her organization preparedness to step up the level of support and cooperation to NIPCO Management, kasali said the company is another eye opener to the role private sector can play to uplift the oil and gas sector of the Nations economy.

The PEF Executive Secretary said the level of automation of the company’s operations as elucidated during the tour further shows that a Nigerian company can match any of its peers in developed countries and as such a vindication of the capacities of indigenous personnel in the downstream sector of the industry.

Even as she acknowledged the wonderful strides of the company within its three years of operation, the PEF boss enjoins the Management to let the fund be aware of any challenges it is facing so that NIPCO can not only continue to excel but also be a good brand to market to its peers.

According to her, this plea is not subjective but based on she was able to observe as well as the need to entrench the gains of the deregulation of the downstream sector which is one of the major planks of the oil and gas sector reforms.

Earlier in his remarks, Mr Sanadhya expressed delight on the visit as the fund remains a strong ally of the company from inception to date as it has not only played a key role in its promotion but also in the daily operation through PEF field officers in the terminal.

The MD pointed out that PEF assisted immensely in convincing independent marketers across the length and breadth of the country to contribute to the fund used in securing the about 10 hectares of land on which the terminal is built.

To him, the terminal which is fast becoming the cynosure of all eyes especially in terms of its level of automation and service delivery, is greatly indebted to PEF for seeing a bright future for the company even at its embryonic stage.

He linked the moderate growth in the company’s operation to the growing support of stakeholders as well as the excellent cooperation of the workforce which further translates positively in the overall attainment of set targets.

According to him, even though the future is bright for the sector there is need for unity
and sincerity of purpose by all players in the industry in meeting the yearnings and aspirations of all stakeholders.

The Executive Secretary’s visit is part of the new leadership conscious effort to further re-position the fond which is a key player in ensuring stability of petroleum products price across the country through its equalization and bridging claims.

Kasali who was recently appointed , replaced Abdul Kareem Gurin who served as PEF s executive secretary for over ten years.