The Nigerian National Petroleum
Corporation (NNPC) has said that their sustained strategic intervention in the
efficient supply and distribution petroleum products, has led to a significant
reduction in the prices of premium motor spirit (PMS), also known as petrol,
and liquefied petroleum gas (LPG), also known as cooking gas, nationwide.
Spokesman of the corporation, Ndu
Ughamadu, in a statement on Sunday, said a national survey by oil and gas
forum, NNPC’s weekly TV programme, indicated that in the last few weeks, the
price of petrol has fallen steadily from N145 per litre to between N142 and
N143 per litre in some stations across the country.
According to him, NNPC mega and
affiliate stations across the country are selling for N143 per litre, while the
pump price range is between N142 and N145 per litre in some major and
independent marketers in Lagos, Abuja, Sokoto, Enugu, Delta and other major
cities.
“One of the respondents in the
survey and a manager at an independent fuel retail station in Abuja, Mohammed
Abdullahi, said the station currently sells petrol at N142 per litre in line
with the prevailing market situation in order to sustain the turnover of the
business and to attract more motorists to the station,” the statement read.
“Another independent marketer in
Mosimi, Emeka Ikechukwu, said the going ex-depot prices of PMS had dropped from
N138 per litre in most depots to N133.28 in NNPC depots and between N130 and
N131 per litre in private depots.
“However, the situation is
slightly different in Aba and Umuahia in Abia State and Calabar in Cross River
state where most independent fuel stations as well as major marketers selling
the product at N145 per litre.
“The survey also showed a similar
trend of drop in price for cooking gas with the average price for refilling 5kg
cylinder at N2,215.96 from the former price of N2,500.00.
“The study further revealed that
states with the lowest average price for the 5kg LPG refill were Kaduna and
Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33.”
Ughamadu also said the prices of
cooking gas have also reduced.
“At the NNPC Mega and retail
stations nationwide, a 12.5kg of cooking gas that was sold for N4,500 a few
months ago is now sold for N3,800 while other retail outlets sell the same
quantity for N4,000,” he said.
“NNPC has sustained its
interventions through sustained improvement in the supply of the products and
remodeling of distribution channels to address sufficiency issues across the
country.”