NNPC’s subsidiary to ship crude again after years of inactivity

NIDAS Shiping Services Limited, a subsidiary of the Nigerian National Petroleum Commission (NNPC), will resume crude freighting services after nearly ten years of suspended operations.

Disclosing this development yesterday, the Head of Public Affairs Division, Mr Ndu Ughamadu, said the decision to return to the shipping business is in tandem with the overall plan by the state-owned oil company to rejuvenate its subsidiaries in order to increase overall revenue.

According to Mr Ughamadu, NIDAS has already taken steps to ensure successful operation by establishing a chartering and operation desk in its UK office. This will help with the securing of vessels as well as ensure overall effectiveness.

Mr Ughamadu also claimed that NIDAS re-emergence in the international crude shipping industry is already eliciting the anticipated response in the market.

His comments on the possibility of a hike in petrol price

Speaking further, Mr Ughamadu dispelled what he described as “misinformation” over a possible hike in petrol price, saying that the Federal Government has no plans to review the current prices of petroleum products.

“Yet, the government has no plan to review the market prices of products either upwards or downwards now.” – Ughamadu

He warned those responsible for the misinformation to desist from doing so, in order to forestall the likely (negative) impact it could have. According to him, an example of such negative impact is the possibility of artificial fuel scarcity especially at a time when the festive period is almost around.

He urged Nigerians to report any filling station that sell petrol above the official pumping price of ₦145 to the Department of Petroleum Resources (DPR).

NIDAS Shipping Services Limited is a subsidiary of Nigeria’s state-owned oil company, NNPC. NIDAS specialises in the “transportation of crude oil and petroleum products along the deep sea, coastal and inland waterways” according to information contained on the NNPC website.

 

Source: Nairametrics

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