The Nigerian National Petroleum Corporation (NNPC) and its downstream subsidiary, the Pipelines and Products Marketing Company (PPMC), last week assure Nigerians that there was adequate supply of kerosene beyond the daily national demand in the country contrary to alleged scarcity of the product in some quarters
It said the clarification became necessary due to reports of scarcity of the product in some parts of the country.
The Nigerian National Petroleum Corporation (NNPC) and its downstream subsidiary, the Pipelines and Products Marketing Company (PPMC), last week assure Nigerians that there was adequate supply of kerosene beyond the daily national demand in the country contrary to alleged scarcity of the product in some quarters
It said the clarification became necessary due to reports of scarcity of the product in some parts of the country.
A source at Ibafon tank farm in Lagos Mr. Fidel Aisodiounne last week confirmed to Shipping Position Daily that for the past three weeks, there has been constant kerosene scarcity at the tank farms.
According to him, the situation is further worsened because the tank farms are not permitted to import the product on their own and sell it freely. Our correspondent also gathered that the landing cost of the product is one of the major factors that has made importers to shy away from its importation.
But in a statement last week, the Group General Manager Group Public Affairs Division of PPMC, Mr. Tumini Green, said: "For the avoidance of doubt, the NNPC, through its subsidiary, the PPMC supplies between 10 to 11 million litres of kerosene daily, which was distributed through allocations to licensed marketers such as Independent Petroleum Marketers Association Of Nigeria, (IPMAN), Depot And Petroleum Products Marketers Association, (DAPPMA), Major Marketers Association Of Nigeria (MOMAN) and NNPC Retail Limited, who sell to the general public through their retail outlets.
"It is, therefore, a surprise to receive reports of scarcity in spite of the fact that NNPC/PPMC supply above the eight million litres national daily consumption.
"Our findings are that only the NNPC retail and a few outlets sell kerosene at the government approved price of N50 per liter while the other marketers who purchase the product from PPMC at government regulated price of N40.90k sell above the recommended price. "It is important to note that it is the responsibility of regulatory agencies to fix the price of kerosene and enforce compliance with the government approved prices. It is also the responsibility of these regulatory agencies to ensure that the allocated petroleum products including kerosene reach the consumer at the approved prices as intended by government.
"Meanwhile, NNPC/PPMC has been sanctioning marketers and vessel owners who were suspected of involvement in sharp and unwholesome practices. The corporation hereby advises members of the public not to engage in panic buying of the product as it has enough stock of kerosene to meet the daily national demand."
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