Petrol remains N165 per litre, says FG
The Federal Government of Nigeria has assured the price per litre of petrol remains N165.
Consumertrics reports the resurgence of vehicular queues at filling stations. Also, the Independent Petroleum Marketers Association of Nigeria (IPMAN) Monday, said it could no longer guarantee the product would continue to sell at the same price, due to what he called a “hostile” business environment.
But, Ugbugo Ukoha, the executive director, Distribution Systems, Storage, and Retail Infrastructure (NMDPRA), assured the pump price of petrol has not changed. He said this during a tour of some petrol filling stations in Lagos. On his entourage are top officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC), and the Pipelines and Product Marketing Company (PPMC).
Ukoha cited the conflict between Russia and Ukraine for hike in diesel price. He said diesel is used in transporting petroleum products from depots to retailers and, as a result, tend to impact cost.
“So, when we observed that this poses a big challenge in the movement of other products, we made the representation to the minister of state for petroleum and Mr. President graciously approved that the freight rate for trucks be increased.
“There’s a N10 addition, which we will apply to the different routes to enable trucks to move to docks easily with less burden. With these kinds of efforts from the government, we can only continue to appeal to operators within this industry to play by the rules
“PMS is a regulated product and the prices are fixed. The ex-depot price is known. The pump price remains N165 and the authority is ever ready to enforce those rules. So, we will continue to urge Nigerians to keep within these operating rules”, Ukoha said, adding that the focus of the stakeholders in the next few days would be to close the supply gap and resolve the ongoing scarcity of petrol as soon as possible.
Adetunji Adeyemi, group executive director, downstream, NNPC, said the state oil company has “about 2 billion litres of PMS that will last 34 days supply”.
“There is sufficient petrol in the country. We are working with the entire stakeholders and players in the downstream sector to ensure that this product gets to the distribution channels and also the stations. We want Nigerians to continue to enjoy the free flow of petroleum products”, he said.
