Chineme Okafor in Abuja
The Nigerian National Petroleum Corporation (NNPC) has disclosed it would set up a new subsidiary company to undertake the business of commercial petroleum products bunkering on the waters of Nigeria.
It explained in a statement its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, issued on Wednesday in Abuja that the move was aimed at consolidating its foothold on shipping business in Nigeria, as well as boost its profit margins.
Ughamadu, noted that plans to set up the subsidiary firm was disclosed by the Group General Manager, NNPC Shipping, Mrs. Aisha Katagum, in an interview she granted in the August edition of the corporation’s in-house journal – NNPC News.
Katagum, he stated, said the new subsidiary will provide refuelling services to ships and other ocean-going vessels, adding that business…
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