Home Energy NNPC begins moves to cut petrol prices

NNPC begins moves to cut petrol prices


JANUARY 16, 2018 – The Nigerian National Petroleum Corporation (NNPC) says it has deployed more of its depots and others through-put facilities to enforce the N133.28 ex-depot price of premium motor spirit, better known as petrol, to marketers directly.

The NNPC also warned against fuel hoarding and enjoined motorists and other consumers to report any infraction by marketers or any NNPC retail outlets to 0906 000 5621, 0906 000 5622, 0906 000 5623, 0906 000 5624 for immediate action.

A press statement signed by the group general manager, group public affairs division of the NNPC, Ndu Ughamadu , quoted the managing director of PPMC, Umar Ajiya, as saying that the measure became necessary to resolve the price differentials between some of its stakeholders.

The statement said Ajiya noted that the through-put facilities along with some of its coastal depots would go a long way in ensuring that marketers access PMS at the approved government price.

He stressed that that the corporation had adequate supply of petrol, advising against panic buying.

“As at today, I want to confirm that the NNPC/PPMC has more than 20 days sufficiency both at marine and land depots and we are still operating 24 hours at the depots and all NNPC Retail Outlets to wet the nation with PMS,” Ajiya said. He said the corporation received between one and two PMS-laden ships daily and that there were days that the NNPC/PPMC took delivery of four cargoes of ship laden with petroleum products.

Ajiya stated that queues were easing out across the country going by feedbacks from the field and that most of the filling stations were selling at the approved price of N145 per litre. He further said the daily truck-outs from the depots had been increased from 1,733 trucks to 2000 trucks per day, adding that efforts are on to sustain the tempo in order to flood the market with PMS.

He called on marketers to desist from hoarding and diversion of petroleum products to neighbouring countries, stressing that the corporation was working hand-in-hand with the Department of Petroleum Resources (DPR) and other security agencies to sanction defaulters.

Recall the Nigerian National Petroleum Corporation on Thursday, January 11, in Abuja urged Nigerians not to engage in panic buying of any petroleum products.

The report quoted NAN as saying that a statement by the NNPC spokesman, Ndu Ughamadu, assured motorists that the corporation had a robust stock of Petroleum Motor Spirit (PMS) otherwise known as petrol. According to the statement, the PMS stock was sufficient to serve the nation for more than 30 days.