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NNPC, NCDMB sign Brass Petroleum Products Terminal agreement ‘to tackle illegal refining’

NNPC, NCDMB sign Brass Petroleum Products Terminal agreement ‘to tackle illegal refining’
June 11
17:06 2021

The Nigerian National Petroleum Corporation(NNPC), the Nigerian Content Development and Monitoring Board (NCDMB) and ZED Energy Limited have signed a shareholder agreement on the construction of Brass Petroleum Products Terminal Limited (BPPT) in the Niger Delta region.

Speaking at the signing ceremony on Friday in Abuja, Timipre Sylva, minister of state for petroleum resources, said the project would help to help curb illegal refining, stabilise petroleum products pricing and create thousands of jobs for people in the region.

He said the BPPT, when completed, would serve as a strategic reserve for the country and is also expected to provide a depot for a 50 million litre facility, two way product jetty, automated storage and automated bay for automotive gas oil (AGO), premium motor spirit (PMS), dual purpose kerosene (DPK) and aviation turbine kerosene (ATK).

“This agreement has scored Mr. President so high because nobody has impacted the oil sector more than he has done. Apart from approving this agreement, the president also approved the building of the Oloibiri museum which is moving at a high speed,” he said.

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“Construction of this depot in the Niger Delta is a big milestone as the people in the riverine areas buy petroleum products five times the price other people purchase it, “he said.

He commended the effort of President Muhammadu Buhari in ensuring the development in the Niger Delta region with approval to build the BPPT terminal, brass fertiliser plant, gas top company, among others.

According to him, floating stations were built to service the riverine areas but the depots or terminals to service them were never built over the years.

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“This project will assuage the problems of the Niger Delta and will curb illegal refining occasioned by lack of access to the product,” he added.

“With this happening, we will have products at the same rate as anywhere.”

On his part, Mele Kyari, group managing director of the NNPC, said the corporation was happy that the project would finally come on board.

“This should have happened 30 years back but we are proud that it is finally coming up. location of a depot offshore is a clear business case,” he said.

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“We will deliver the project, building jetty and depot does not take too long. We and our partners will deliver the project and put it in place.

“We will be held responsible by the minister and all stakeholders, so we will put pressure in operation to make sure it is delivered,”

Also speaking at the event, Simbi Wambote, executive secretary of NCDMB, commended the National Petroleum Investment Management Services (NAPIMS) for supporting the inter-ministerial collaboration till it got to the agreement signing stage.

He said the team did impressive work and urged all stakeholders to continue with the tempo until the project was delivered.

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In his remark, John Dankori, managing director of ZED Energy Ltd, thanked the federal government for giving them the opportunity to be part of the project.

Represented by Onesi Obende, he assured the stakeholders that his company would do all required by them to ensure the project was delivered within the time frame.

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