President Buhari to commission Pinnacle FZE Terminal in Lagos


President Muhammad Buhari is set to commission Pinnacle Oil and Gas FZE Terminal on Saturday in Lagos.

The Chief Executive Officer of the company, Dr Peter Mbah, made this known while interacting with newsmen on Tuesday in Lagos.

Mbah, who noted that the company had a market share of 23 per cent, said the terminal was a major disruptive innovation, which would transform the whole downstream value chain.

The CEO also described the terminal as a resilient infrastructure with the capacity to export and import from the same pipeline.

Meanwhile, he expressed optimism that Nigeria would soon become a net exporter of refined products.

“We have built a resilient infrastructure. We have the capability to export and import from the same pipeline.

“We believe that over time with the investment we are seeing, Nigeria will become the net exporter of refined products,” he said.

While giving an insight into the company’s history, the CEO revealed that Pinnacle Oil and Gas started operation in 2008, in a one-studio apartment.

He added that 14 years later, the company had become number one in its operational space.

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