The FG sees the need to be in full control of imported oil produce true NNPC which has resulted in the closure of many oil depot around the country.
Akpani, who spoke during the Nigeria Petroleum Downstream Consultative Summit held online, said, “A lot of them are in one problem or the other with banks and the Asset Management Corporation of Nigeria.
“In the past few years, there were quite a lot of investment in depot construction across Nigeria because opportunities presented themselves for people to make such investment.
“Subsequently, as government has continually overtaken the whole operations in the downstream sector, to a large extent, it has been very difficult for a lot of the depot owners to survive, especially those who had not made further investment into other areas of the sector.”
Akpani, who spoke during the Nigeria Petroleum Downstream Consultative Summit held online, said, “A lot of them are in one problem or the other with banks and the Asset Management Corporation of Nigeria.
“In the past few years, there were quite a lot of investment in depot construction across Nigeria because opportunities presented themselves for people to make such investment.
“Subsequently, as government has continually overtaken the whole operations in the downstream sector, to a large extent, it has been very difficult for a lot of the depot owners to survive, especially those who had not made further investment into other areas of the sector.”