Following plans by the Nigerian National Petroleum Corporation (NNPC), to stop the importation of petroleum products in the next medium term, operators in the downstream sector, who do not diversify along the value chain, may lose out on business as they may not have a role to play in the market.
The Managing Director, Pipelines and Product Marketing Company (PPMC), a subsidiary of NNPC, Umar Ajiya, said this during the inauguration of the flagship mega retail outlet of Emadeb Energy Services Limited, a player in the downstream oil sector in Lagos.
Ajiya, who noted that integrating from upstream to downstream sector should be the key desire of any entity, commended the oil firm for retooling in the right direction.
“It is all about diversification, and that is what really should drive businesses not just having a little piece of the value chain, but integrating from upstream to downstream is what should be the desire of any entity. Perhaps one day you will see Emadeb also going upstream.”
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