NNPC Fixes Kerosene Price At N150 Per Liter

The Nigerian National Petroleum Corporation (NNPC)) has fixed the price of kerosene at N150 per litre.
This regulatory price benchmark is far below N280 current average market price of the product in most part of Nigeria.
Last month the National Bureau of Statistics, NBS, reported that national average price of the product in the month of August 2016 was N298.2 per litre.
Announcing the price ceiling recently during a courtesy visit to the Governor of Ogun State; Mr. Ibikunle Amosun in Abeokuta, the Group Managing Director of NNPC Dr. Maikanti Baru, called on petroleum marketers not to sell the commodity above the price.
Baru stated that the issues surrounding the scarcity of kerosene had been addressed, while he disclosed that presently, all NNPC retail and mega stations had been supplied with kerosene and are selling at N150 per litre.
He said, "I am calling on other marketers to emulate NNPC by selling kerosene at maximum of N150 per litre, which also provides sufficient margin for them to do so."
He further stated that the NNPC is committed to promoting the use of Liquefied Petroleum Gas (LPG) as an alternative choice for home cooking.
Furthermore, Baru disclosed that the ongoing Escravos-to-Lagos Pipeline System 2 (ELPS 2) project would be completed by the last quarter of this year.
He stated that the project, when completed, would boost gas supply and guarantee a significant improvement in power supply across the country.
According to him, the 36-inch and 342-kilometer gas pipeline project would double the capacity of the existing ELPS, thereby, improving gas supply to Ogun State and environs.
In addition, Baru promised that the NNPC would continue to support the aspiration of Ogun, Ondo and Lagos States towards the establishment of a mega city and the free trade zones.
He stated: "As you may be aware, gas supply to these states are key to the realisation of these objectives. Our major gas and product pipelines transverse Ogun State."
He maintained that the recent achievements of security agencies in safeguarding the Atlas Cove to Mosimi System 2B pipeline would not have been possible without the support of the host communities and the state government.
Baru, however, urged the state government to help prevent encroachment on petroleum product pipeline right of way and incessant hacking into the pipeline to steal products.