Again, NNPC insists Nigeria has enough petroleum products
• Corporation to sell petrol, lubricant in W’African countries
The Nigerian National Petroleum Corporation (NNPC) yesterday, in Abuja, insisted the country has sufficient Premium Motor Spirit or petrol, to guarantee hitch-free celebration of Easter.
The state-oil-firm also stated that it would expand its retail services to other West African Countries as part of an expansion plan.The Corporation similarly disclosed that all its retail outlets are complying with the new petrol-pricing template, which adjusted the pump price to N123 per litre.
The Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan, said although there are movement restrictions, PPMC has maintained steady supply of petroleum products across the country, adding that the Company has enough products in its marine and land depots that could last another two months.
“I want to assure Nigerians that the PPMC has enough petroleum products to go round as they prepare to celebrate Easter. We have up to 2.53billion litres both in marine and in our inland depots. There is enough petroleum products in stock, and as we speak, some vessels laden with petroleum products are en route to the country,” Lawan informed.
Lawan said PPMC would soon automate its processes, maintaining that the deployment of the application would reduce face-to-face interactions with marketers and promote transparency of all its operations.
He urged Nigerians to avoid panic buying or stockpiling petroleum products because of the associated danger and risks. One of the downstream subsidiaries of the oil firm, NNPC Retail Ltd. stated that all its filling stations across Nigeria have been selling petrol within the official price announced by the Petroleum Products Pricing Regulatory Agency (PPPRA) for the month of April.
Managing Director of NNPC Retail Ltd., Billy Okoye, said that all of the company’s over 600 retail outlets adjusted to the new price immediately the pricing regulatory agency came up with the new price band of between ₦123.50 and ₦125.
The NNPC Retail boss explained that the company was the first in the country to comply with the PPPRA price advisory issued on 19th March, 2020, by adjusting its pumps to ₦125 per litre from the old price of ₦145 per litre.
“Last week, the PPPRA announced the new pump price range of ₦123.50 to ₦125 for the month of April 2020. What this means is that all stations in Nigeria cannot sell below ₦123.50 and cannot sell above ₦125 per litre for the month of April 2020. NNPC Retail Ltd. is fully complying with the PPPRA directive as we are neither selling below ₦123.50 nor selling above ₦125 per litre in all NNPC Retail’s stations nationwide,” Okoye said.