Petrol price re­mains N87 per litre – NNPC

Daily Trust - - FRONT PAGE - By Daniel Adugbo

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.

The Cor­po­ra­tion, in a state­ment yesterday, de­scribed the re­port as false and ad­vised mem­bers of the public to ig­nore such “tales”.

Mean­while, the Group Man­ag­ing Di­rec­tor of the NNPC, Dr. Ibe Kachikwu, has met with mem­bers of the Ma­jor Oil Mar­keters As­so­ci­a­tion of Nige­ria, MOMAN, along­side the De­pot and Petroleum Prod­ucts As­so­ci­a­tion (DAPPMA) at the NNPC Tow­ers, Abuja.

The meet­ing was aimed at strate­gis­ing to­wards en­sur­ing zero fuel queues through­out the coun­try ahead of the forth­com­ing yule­tide.

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, Dr. Kachikwu said that the is­sue of un­in­ter­rupted sup­ply and dis­tri­bu­tion of petroleum prod­ucts across the coun­try was of ut­most im­por­tance to the present ad­min­is­tra­tion. He ex­pressed gov­ern­ment’s re­solve to en­sure that mem­bers of the public do not go through any form of hard­ship in ac­cess­ing petroleum prod­ucts, par­tic­u­larly PMS.

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

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

Femi Ola­wore, Sec­re­tary Gen­eral of the ma­jor mar­keters, com­mended the GMD 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 forth com­ing yule­tide and even be­yond.

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

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