Tuesday, 21 March 2017

NNPC: CBN has Released Forex for Importation of Aviation Fuel

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


In an announcement marked by Ndu Ughamadu, group general director, group public affairs division, NNPC said it had more than 1.2 billion liters of petrol, which would be adequate for over 34 days for further utilization.

"The partnership's item supply viewpoint for March to May, 2017, demonstrates that means have been taken to guarantee sufficient supply of diesel and aviation fuel.

"For Automotive Gas Oil and Aviation Turbine Kerosene, NNPC will keep on importing to supplement local refining. "The Central Bank of Nigeria also recommended foreign exchange to importers to import AGO and ATK."

NNPC said it has re-commissioned a 479.2 kilometers pipeline system to upgrade circulation of petroleum items in the nation and oversea.

"Likewise, NNPC has re-authorized its key 479.2 kilometers System 2B petroleum items pipeline organize which extends from the Atlas Cove-Mosimi-Ejigbo-Ibadan, ending at Ilorin which will improve successful dissemination of petroleum items across the nation, particularly with the imagined resumption of stacking exercises at the Mosimi, Ejigbo and Ibadan stations.

"The Calabar and Aba stations have been supplied with AGO while AGO loadout at Kano terminal would initiate soon."

Over the previous year, airlines(carriers) in Nigeria have weathered difficulties in managing the buy of avionics fuel. most of our aircraft went as far as Accra, Ghana to fuel flights inside Nigeria. the Nigerian National Petroleum Corporation (NNPC) says that the Central Bank of Nigeria (CBN) has provided means of foreign exchange for the import of Automotive Gas Oil (diesel) and Aviation Turbine Kerosene (ATK).

In an announcement marked by Ndu Ughamadu, group general manager, group public affair division, NNPC said it had more than 1.2 billion liters of petrol, which would be adequate for over 34 days of forward utilization. "The Central Bank of Nigeria has likewise discharged outside trade to importers to import AGO and ATK."

NNPC said it has re-commisioned a 479.2 kilometers pipeline system to upgrade circulation of petroleum items the nation and oversea.
Over the past year, airlines in Nigeria have weathered challenges in dealing with the purchase of aviation fuel. Some airlines went as far as Accra, Ghana to fuel flights within Nigeria.

SOURCE: The Cable

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About the Blogger: Adedamola Adewoye is a Senior custom relationship officer with VHI Cargo. He has over 15 years experience interfacing with Nigeria custom and other Government agencies at the port.
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