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The
sustained strategic intervention of the NNPC in the efficient supply
and distribution petroleum products has led to significant fall in the
prices of Premium Motor Spirit and Liquefied Petroleum Gas nationwide.
NNPC
The Nigerian National Petroleum
Corporation (NNPC) has said that their sustained strategic intervention
in the efficient supply and distribution petroleum products, has led to a
significant reduction in the prices of premium motor spirit (PMS), also
known as petrol, and liquefied petroleum gas (LPG), also known as
cooking gas, nationwide.
Spokesman of the corporation, Ndu Ughamadu, in a statement on
Sunday, 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.
According to him, NNPC mega and affiliate stations across the
country are selling for N143 per litre, while the pump price range is
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 have 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.”
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