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TUESDAY, OCTOBER 5 , 2004           More NNPC mega stations coming nationwide --Kupolokum NNPC Group Managing Director (GMD) Funsho Kupolokun says the corporation will set up a mega station in each of the 36 states between now and end of next year. �We will take advantage of the full implementation of the deregulation policy and capture the downstream market,�� he told the News Agency of Nigeria (NAN) yesterday in Abuja. He noted that since deregulation was about opening up the downstream oil sector, the NNPC would fully participate in the downstream business in line with the global trend. The GMD said NNPC would not lag behind its peers around the world who had taken over the downstream oil sector businesses in their countries. He said for instance in Brazil, Norway and Malaysia, their national oil companies owned majority of the filling stations there. Meanwhile, Kupolokun said the nation has a 21-day reserve stock of fuel in Mosimi depot and that there was adequate stock of products in all the depots across the country. He told a delegation of Congress of National Youth Leaders (CNYL), that small hiccups would not disrupt supply as a result of the opening up of the downstream sector. �It is now proven that deregulation is yielding the desired result given the availability of products across the country,�� he said. He explained that government withdrew subsidy because it only enriches the rich and impoverish the poor. According to him, as a result of the implementation of the deregulation policy, three new power plants were being built by the government aimed at addressing power outages nationwide. Responding, president of the group, Mr Abayomi Soleye, said they were now better informed about the merits of deregulation policy and pledged to carry the message forward. He praised the NNPC management for their achievement in fuel availability. Soleye urged the NNPC to enlighten Nigerians more about the merits of deregulation to address the misgivings surrounding the policy.   SITE TOOLS Print This Page   EMAIL THIS PAGE Friend's Name: Friend's  Email: Your Name: Your Email:           � Triumph Publishing Company Limited 2004

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