NNPCL Targets 2,000 Retail Outlets by 2025 Amid Downstream Expansion
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to expand its retail outlets to 2,000 before the end of 2025.
Chief Corporate Communications Officer, Olufemi Soneye, disclosed this during the NNPC Stakeholder Engagement and Capacity Building Workshop for National Assembly Clerks, Deputy Clerks and administrative staff in Abuja.
Soneye stated that NNPCL, Africa’s largest state-owned oil firm, has been aggressively growing its downstream business. From 897 retail outlets in October 2024, the company surpassed 1,000 last week after acquiring more filling stations.
“In regards to filling stations, NNPCL is no doubt the largest in Africa. As of October last year, we had about 897 fuel stations across the country, evenly distributed. We know there are some areas where we have shortfalls, but I am glad to tell you that as of last week, we acquired more stations, and now we are over 1,000 stations. The goal is to go to about 2,000 stations before the end of the year,” he said.
Soneye also provided updates on NNPCL-owned refineries, confirming that all but the new Port Harcourt and Kaduna refineries are currently operational. He expressed optimism that these refineries would become functional before the end of 2025.
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“The refineries have been working since last year. The only refinery owned by NNPCL that is not working now is the Kaduna Refinery and the new Port Harcourt Refinery. Because in Port Harcourt, we have two refineries—the old and the new. The old refinery is working, but the new one is still under construction. I am thinking before the end of the year that should work, and the same for Kaduna. So the refineries are working. They have not stopped working since they started operations,” he added.
On the pricing of Premium Motor Spirit (PMS), which some participants at the event described as still too high, Soneye assured that prices would decline as the Naira continues to appreciate. He emphasized that local petrol prices are influenced by the international oil market and that NNPCL, as an Oil Marketing Company, can also import fuel to stabilize prices.
He further noted that the Petroleum Industry Act (PIA) has fully deregulated the downstream sector, allowing licensed Oil Marketing Companies (OMCs) to import petrol and promote competition. “NNPCL would not allow monopoly to thrive in the market,” he stressed, highlighting the company’s commitment to providing alternatives and ensuring fair pricing for consumers.
