Sale of kerosene at 150 per litre excites NUPENG

By Abimbola Fashakin, Lagos

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has expressed delight that Nigeria National Petroleum Corporation (NNPC) has fixed the official depot price of kerosene at the rate of N150 per litre.

Speaking the media over the weekend, the South-West Chairman of the union, Alhaji Tokunbo Korodo said the new price regime will encourage more importation of the product by the marketers.

According to Korodo, 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.

 

Korodo, however, commended Federal Government for its transparent policy in oil and gas sector.

 

He urged 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 han on Jan. 24 increased the price of kerosene to N83 per litre from N50 per litre thereby officially removing subsidy from the product.

Facebook Comments

Check Also

Nigeria exports N3bn worth of goods in Q2, says NBS

The National Bureau of Statistics (NBS) has stated that the country’s total export value stood ...

NNPC to shut down 3 refineries for overhaul – Baru

The Nigerian National Petroleum Corporation (NNPC) says the nation’s three refineries would be shut down ...