Latest Post

NNPC strives to consolidate hold on Shipping business

In a move to consolidate its foothold on the shipping business in Nigeria and boost profitability, Nigerian National Petroleum Corporation (NNPC) has unveiled plans to set up a subsidiary to provide bunkering services to ships and other ocean-going vessels.

Mr Ndu Ughamadu, Spokesman of NNPC, quoted the Group General Manager, NNPC Shipping, Mrs. Aisha Katagum, as unveiling the plan in the corporation’s in-house journal.

 “Actually, the NNPC Group Managing Director (GMD) is also very keen on that.

“He has directed the Corporate Planning and Strategy (CP&S) Division to come up with a business model for us to see how it could operate.”

According to her, the bunkering subsidiary is most likely going to be an incorporated company like Nidas, a subsidiary under NNPC Shippping Division.

She added that the proposed company would likely be domiciled in the NNPC Shipping Division too.

“I’m sure it’s going to be a big business because we have so many vessels that come into the West African Coast. This year alone, over 120 vessels have brought imports for us.” She said

Nikorma and Marine Logistics are two other downstream subsidiaries under the NNPC Shipping Division.

While Nikorma engages in shipping and transportation of energy products, Marine Logistics on the other hand, provides logistic services to the crude and petroleum products and gas sub-sector.

The Marine Logistics have the mandate to effect demurrage reduction and ensure safe and efficient coastal distribution of petroleum products.

She is expected in Nairobi on Thursday, where she will meet President Uhuru Kenyatta and see British soldiers from Kenya and other African countries on the techniques needed to identify and destroy improvised explosive devices before they go to fight Al-Shabaab in Somalia.

The prime minister is on a trade mission in an attempt to bolster Britain’s post-Brexit fortunes. This is her first visit to sub-Saharan Africa since she became prime minister in 2016.

She is accompanied by a 30-member business delegation as part of her efforts to “deepen and strengthen” partnerships around the world as the UK prepares to leave the European Union next year.