No Slash in Pump Price of Petrol – NNPC

Emmanuel Ibe Kachikwu


The Nigerian National Petroleum Corporation debunks tale of slash in pump price of Petrol as it rallies stakeholders in the industry to consolidate uninterrupted fuel supply

THE Nigerian National Petroleum Corporation, NNPC has debunked reports in some social media of a purported reduction in current pump price of petrol from N87 per Litre to N57. Describing the report as false, the corporation advised members of the public to ignore such tales, noting that the price of petrol remains N87 per litre.

Meanwhile, a major step towards ensuring zero fuel queues throughout the country ahead of the forthcoming yuletide and beyond kicked off on Monday, October 12, with a meeting between Ibe Kachikwu, group managing director of the NNPC, and members of the Major Oil Marketers Association of Nigeria, MOMAN, alongside the Depot and Petroleum Products Association, DAPPMA, at the NNPC Towers, Abuja.

At the end of the session, the NNPC and the key downstream operators reached a consensus to work together to eliminate all obstacles that could hamper the free flow of petroleum products across the country.

Addressing the downstream stakeholders, Kachikwu stated that the issue of uninterrupted supply and distribution of petroleum products across the country is of utmost importance to the present administration, noting that government is willing to do everything possible to ensure that members of the public do not go through any form of hardship in accessing petroleum products particularly fuel.

On the protracted subject of outstanding payment to oil marketers, Kachikwu promised to work with other relevant federal government agencies to fast track the payment of the outstanding money, promising in the interim to arrange for a meeting with the relevant creditors (bankers) to ease off pressure on marketers and extend the credit lines.

He noted that several financing mechanism are being explored to offset the commitment to oil marketers. Hinting at the possibility of exploring the monthly payment option, Kachikwu said: “In future we may explore some creative means to prevent backlogs.’’

Speaking on behalf of MOMAN, Femi Olawore, executive secretary  of the major marketers commended Kachikwu for his support and pledged the readiness of the marketers to work assiduously with the federal government in ensuring zero fuel scarcity across the nation in the forthcoming yuletide and even beyond.

Olawore called on Kachikwu to facilitate the institution of a special committee to verify and authenticate the current national fuel consumption figure of 40 million litres per day.

Also Dapo Abiodun, chairman of DAPPMA, commended the NNPC for what he termed improved services at various PPMC product loading facilities and urged the new management of the company to sustain the tempo, according to a statement signed by Ohi Alegbe, group general manager, Group Public Affairs Division, NNPC and made available to Realnews on Monday.

— Oct 12, 2015 @ 19:00 GMT


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