FG Opens Bids, Saves $500m On Oil Products – Dr Maikanti Baru

*Gas pipelines
The batch over which the bids were opened is scheduled to last for the next one year, starting from April 1. “The DSDP programme has also recorded significant cost savings of over half a billion dollars through major reduction in the amount we paid for both demurrage and the product themselves.

“It ensures that the supplies from refineries are fully augmented to meet the national supply as well as a sustained over 30 days sufficiency particularly with petrol. “The programme is very transparent and the major instruments on the partnership between the NNPC and the product supplies both local and international, we have as part of this programme,” Baru said.

In an interview with newsmen on the sideline of the bidding process the GMD said the requirement was that the bidder must have physical presence in Nigeria. “The major drive here is to ensure that Nigerians are not left out and to ensure that those that emerge, whether consortium or single, must have physical presence in Nigeria.

“That means they must have depots or retail outlets as a minimum or they must be involved with exploration or production of crude oil. “So we will ensure that most of them are domiciled here in Nigeria. This year’s programme for DSDP is about 800, 000 barrels at most,” he said. He said the tenders will be based on West African quality specifications and we will maintain the latest which is 50 per cent of sulphur content. It was equally reported that the corporation saved a billion dollars from the DSDP programme in 2016.