Nigeria: NNPC Managing Director Urges Need for Downstream Deregulation
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Wednesday, 14 December 2011 |
Transport owners in Nigeria have been urged by the Nigerian National Petroleum Corporation (NNPC) to support the proposed deregulation of the downstream oil sector in the country.
The NNPC says proceeds from the deregulation process will go towards critical infrastructure upgrades in the industry. “(Part of the subsidy fund) will be used to repair roughly 2,500 kilometres of pipelines and repair roads to ensure that the lifespan of your assets too is expanded,” NNPC Group Managing Director Austen Oniwon (pictured) said at the inauguration of National Executive Council members of the Nigerian Association of Road Transport Owners.
Oniwon commended the Association’s members for continuing their business despite the challenges faced by infrastructure that was in a state of disrepair. His commendation, however, once again highlighted the need for investment in roads and pipelines if the sector is to thrive in the future.
PetrolWorld 14122011
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