10,000 workers to go as NNPC Shutdown 500 Affiliate Stations Nationwide

                         

10,000 staffs of 500 affiliate NNPC stations will soon lose their Jobs as the state national oil Company will soon Close down  Stations across the Country due to massive debt and other bottlenecks.
NNPC Retail Limited has been overseeing thge Management of the outlets since 2002  at a cost that is currently unsustainable.

Dr kachikwu the GMD of the Corporation  gave the hint of the closure, that the mounting debt can no longer be sustained in face of dwindling Revenue.he discloses that Franchise holder have 500 stations while NNPC operates 20 stations directly,maintaining that the affiliate Station enjoys massive benefit from NNPC that it can no longer sustain.

He said the 500 Affiliate Station failed to pay for the products supplied to them hence the mounting debt Profile which has made the Business unattractive.

While I ran my own private business, operators made payments to me before products are supplied to them. I don’t need to even wait for their payments. They pay far ahead of supply. But in the case of the affiliate companies, the reverse is the case,’’ he lamented
“For now, we will be returning to our initial 20 fuel stations while we grow capacity gradually. The present affiliate arrangement is not working for the retail company. But we will keep working to come up with other sustainable options to keep the initiative moving,” he said.