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NNPC resumes loading of petrol from Mosimi depot as diesel price drops

The House of Representatives Ad hoc Committee on Review of Petroleum Pump Price yesterday embarked on a fact-finding mission to the Petroleum Products Pricing Regulatory Agency (PPPRA) to acquaint itself with the real situation of fuel in the country.

The committee members, who considered their visit to the agency as oversight, warned the Federal Government of hiking petroleum products prices. Chairman of the committee, Nnana Igbokwe said any attempt to further review the pump price of petrol upwards, would aggravate the sufferings of citizens.

He, however, applauded the agency for holding on the price of N145 per litre of petrol for a while now, despite additional N1 per litre of petrol loading cost said to be demanded by tanker drivers.

Representative of the Acting Executive Secretary of PPPRA, Mr. Olasupo Agbaje (General Manager Operations), who received the committee members, reiterated, “we have no intention of increasing petrol pump price because the N1 additional cost is built into the lightering expenses.”

He said governments at all levels in the country were desirous of alleviating the sufferings of the people. The Nigerian National Petroleum Corporation NNPC had stressed that it has no plans to increase the pump price of petrol.

NNPC made the denial in a statement by Mr. Ndu Ughamadu, its Group General Manager, Group Public Affairs Division. Meanwhile, the NNPC said loading of petroleum products resumed at its Mosimi Area depot in Ogun State, over the weekend.

The System 2B Pipeline (Mosimi Area) has been down since May 2016 due to the activities of pipeline vandals along the Atlas Cove-Mosimi Pipeline Right of Way (PROW), a development that has led to crippling of commercial activities and loss of lives due to the nefarious activities of vandals.

Besides, price of a litre of diesel has dropped from the N300 it recorded about a month ago to N190, as naira continues to gain strength against the dollar. For instance, filling stations like Total, MRS, Forte Oil, Oando, Conoil are now selling diesel at between N187 to N190 depending on the location.

Group Managing Director, Dr. Maikanti Kacalla Baru, who supervised the recommencement of loading operations at the Mosimi, said the development marked a major milestone in NNPC’s quest to ensure steady supply and distribution of white petroleum products across the country.

Baru, who was represented by the Chief Operating Officer, Downstream, Henry Ikem-Obih, said: “Today marks the beginning of a new era of hope and the return of commercial activities in this economic corridor, as products are being received in Atlas cove and pumped to Mosimi for on-ward pumping to Satellite depot and loading from these two (2) great depots in this Area.”

He further noted that the re-streaming of loading activities at the Mosimi Area was in line with NNPC’s drive to ensure development of oil and gas infrastructure as contained in Corporation’s 12 Business Focus Areas (12 BUFA) and by extension, realizing Mr. President’s agenda of adding value across the entire oil and gas value chain.

He observed that the NNPC had recently rehabilitated and re-streamed some critical oil and gas infrastructure and petroleum product facilities such as the System 2E (Port Harcourt-Aba) pipeline after over a decade of poor functionality,” he stated.


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