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Central Bank Releases Forex to Ensure Robust Importation of Aviation Fuel/Products Supply

Posted by Odinaka on Mon 20th Mar, 2017 -

The Nigerian National Petroleum Corporation (NNPC) says that the Central Bank of Nigeria (CBN) has provided foreign exchange for the import of Automotive Gas Oil (diesel) and Aviation Turbine Kerosene (ATK).

NNPC Announces New Measures to Ensure Robust Products Supply
The Nigerian National Petroleum Corporation (NNPC) has in stock, a robust inland supply of over 1.2 billion litres of petrol sufficient for more than 34 days forward consumption.
The Corporation’s product supply outlook for March to May, 2017, shows that steps have been taken to ensure adequate supply of diesel and aviation fuel.
For Automotive Gas Oil and Aviation Turbine Kerosene, NNPC will continue to import to supplement local refining.
Also, the Central Bank of Nigeria has released foreign exchange to marketers to import AGO and ATK.
In addition, NNPC has re-commissioned its strategic 479.2 kilometres System 2B petroleum products pipeline network which stretches from the Atlas Cove-Mosimi-Ejigbo-Ibadan, terminating at Ilorin which will enhance effective distribution of petroleum products nationwide, especially with the envisaged resumption of loading activities at the Mosimi, Ejigbo and Ibadan depots.
The Calabar and Aba depots have been stocked with AGO while AGO loadout at Kano depot would commence soon.
Ndu Ughamadu
Group General Manager
Group Public Affairs Division,
NNPC, Abuja.
March 19, 2017.

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