NNPC Fixes Kerosene At N150 Officially, Other Stations Will Sell At N220 - NUPENG

IM

The Nigeria Union of Petroleum
and Natural Gas Workers
(NUPENG) says the Nigeria
National Petroleum Corporation
(NNPC) has fixed N150 per litre
as the official depot price of kerosene.
Tokunbo Korodo, the South-
West Chairman of the union,
disclosed this in an interview
with the News Agency of Nigeria
(NAN) in Lagos on Saturday. According to him, the price will
encourage more importation of
the product by the marketers.
He said that most of the filling
stations selling kerosene
between N200 and N220 as the pump price was as a result of
additional money on
transportation of the product
and some other levies paid by
marketers.
The chairman said that at present, NNPC was the only
importer of kerosene and was
using private depots to sell the
product.
“The NNPC has fixed N150 per
litre as the new depot price of kerosene and has directed all its
depots and private depot to
comply with the directive.
“This did not include the
transportation of the product or
several levies and bank interests paid by marketers.
“Consequently, marketers will
now add all these expenses to
the depot price to arrive at N190,
N200 or N220 depending on
their locations. “The advantage of this is that it
will open door for more
marketers to commence
importation of kerosene just like
petrol,’’ he said.
Mr. Korodo, however, commended the Federal
Government for its transparent
policy in oil and gas sector.
He urged the NNPC to commence
loading of its products from
depots nationwide, adding that the System 2B oil pipelines were
saved from being vandalised.
NAN reports that the Federal
Government handon Jan. 24
increased the price of kerosene
to N83 per litre from N50 per litre thereby officially removing
subsidy from the product.