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NNPC: We’ve crashed prices of petrol, cooking gas nationwide

NNPC: We’ve crashed prices of petrol, cooking gas nationwide
September 03
14:49 2017
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The Nigerian National Petroleum Corporation (NNPC) says sustained strategic intervention in the efficient supply and distribution of petroleum products has led to significant fall in the prices of premium motor spirit (PMS), also known as petrol, and liquefied petroleum gas (LPG), also known as cooking gas, nationwide.

In a statement on Sunday, Ndu Ughamadu, spokesman of the corporation, said a national survey by Oil and Gas forum, NNPC’s weekly TV programme, indicated that in the last few weeks, the price of petrol has fallen steadily from N145 per litre to between N142 and N143 per litre in some stations across the country.

He said the study showed that NNPC mega and affiliate stations across the country are selling the product for N143 per litre, while the pump price range from between N142 and N145 per litre in some major and independent marketers in Lagos, Abuja, Sokoto, Enugu, Delta and other major cities.

“One of the respondents in the survey and a manager at an independent fuel retail station in Abuja, Mohammed Abdullahi, said the station currently sells petrol at N142 per litre in line with the prevailing market situation in order to sustain the turnover of the business and to attract more motorists to the station,” the statement read.

“Another independent marketer in Mosimi, Emeka Ikechukwu, said the going ex-depot prices of PMS had dropped from N138 per litre in most depots to N133.28 in NNPC depots and between N130 and N131 per litre in private depots.

“However, the situation is slightly different in Aba and Umuahia in Abia State and Calabar in Cross River state where most independent fuel stations as well as major marketers selling the product at N145 per litre.

“The survey also showed a similar trend of drop in price for cooking gas with the average price for refilling 5kg cylinder at N2,215.96 from the former price of N2,500.00.

“The study further revealed that states with the lowest average price for the 5kg LPG refill were Kaduna and Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33.”

Ughamadu also said the prices of cooking gas has also reduced.

“At the NNPC Mega and retail stations nationwide, a 12.5kg of cooking gas that was sold for N4,500 a few months ago is now sold for N3,800 while other retail outlets sell the same quantity for N4,000,” he said.

“NNPC has sustained its interventions through sustained improvement in the supply of the products and remodeling of distribution channels to address sufficiency issues across the country.”

He added that the corporation had stepped up the resuscitation of some of its “critical pipelines and depots” such as the Atlas Cove – Mosimi depot Pipeline, Port-Harcourt Refinery – Aba depot Pipeline, Kaduna – Kano pipeline and the Kano depot which have enhanced efficiency in products distribution.

Ughamadu said efforts were ongoing to revamp and re-commission other critical pipelines and depots across the country to further push down the prices of petroleum products for the benefit of consumers.

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Copyright 2017 TheCable. Permission to use quotations from this article is granted subject to appropriate credit being given to www.thecable.ng as the source.
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3 Comments

  1. Jibril
    Jibril September 03, 16:25

    In Benin city the price is more better than all the state mentioned in your study As oms is sold for between 140 and 141 per liter by the independent marketers while NNPC is selling at 143 other major marketers. The price for cooking gas is sold at 3700 naira for the 12.5kg.

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  2. Umar Muhammad Umar Kajiji
    Umar Muhammad Umar Kajiji September 04, 14:26

    To that’s a very welcome development, this administration is trying to stabilize our economy so that we cab be independent. May god help us Ameen

    Reply to this comment
  3. Sule
    Sule September 05, 18:25

    NNPC had crashed nothing. If the price of of fully deregulated gasoline was 140 naira as at 2012 (when crude oil price was above $80 per barrel), and this government criminally to it to 145 naira when the crude oil price was below $45 per barrel. WE should rather demand from NNPC and the government a refund of trillions of naira they have stolen from Nigerians with the unjustifiable 145 naira per litre they have charged for 2 years. How can we be so dumb?

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