(Ecofin Agency) - The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has commissioned four petrol storage tanks at Mosinmi Depot in Ogun State.
According to Baru, the dismantling and reconstruction of tank 13 and renovation of tanks 11, 12 and 22 at the Mosimi Depot would ease product distribution and increase the storage capacity of the depot by 220,000 litres.The Mosinmi Depot was built in 1978 for storage and distribution of petroleum products to the western part of Nigeria.
“Unfortunately, tank 13 was gutted by fire in 1997 while tank 11, 12 and 22 have been in service for 23 years but their respective floating roofs collapsed at different times in 2001 and rendered them unserviceable. Non-usage of the decrepit tanks imposed operational constraint to product storage and distribution in the Mosinmi area, in turn, negatively impacted the turn-around at Atlas Cove jetty with concomitant huge demurrage charges to NNPC,” he said.
The Group Managing Director added that the project was concluded on schedule, in spite of the challenges posed by community restiveness.“The project has restored the original combined storage of 87.70m litres for the four tanks, which has also increased by 220,000 litres. This combined storage capacity represents over 54 per cent of the total storage capacity for petrol at Mosinmi Depot and has significantly enhanced storage capacity nationwide,” Baru told Daily Trust.