A Review of the Nigerian Energy Industry

NNPC outlets, others now sell petrol above N87

29 July 2015, Lagos- Filling stations belonging to the Nigerian National Petroleum Corporation have joined their independent counterparts in selling Premium Motor Spirit or petrol for a minimum of N100 per litre, which is higher than the N87 per litre official pump price fixed by the Federal Government.

NNPC-filling-station-360x225The marketers of the product have continued to fix arbitrary prices for petrol for months now despite complaints by Nigerians.

Despite threats of sanctions by the downstream regulator, the Department of Petroleum Resources, the marketers have continued to sell above the regulated price without being punished.

Fillings stations, which hitherto were not bold enough to sell above N87 at daytime for fear of being sanctioned by the DPR, now sell the product the product openly at N100 and above per litre.

Even in the Victoria Island area of Lagos where the DPR is located, filling stations are currently selling petrol for a minimum of N100 per litre.

At the four NNPC mega stations visited by our correspondent in Lagos and Ogun states, it was observed that petrol was being sold for N100 per litre.

The sales attendants told our correspondent that they had been directed by their respective managers to sell the product at N100 per litre.

The NNPC mega stations are located in Akute and Ajuwon Road in Ogun State; and Egbeda Road and Iju Road in Lagos.

Other filling stations belonging to Mobil, Forte Oil, MRS and other independent marketers in the two states also sold the product for N100.

Reports from Rivers, Imo, Anambra, Kwara, Kaduna, Kano and Enugu states as well as the Federal Capital Territory showed that the product was selling above N100 per litre.

When our correspondent contacted the spokesperson for the NNPC, Mr. Ohi Alegbe, he said he was not going to comment on the issue.

However, an official of the DPR, told our correspondent that the department would continue to engage the marketers until normalcy returned to the system.

The official, who spoke on the condition of anonymity, said the DPR was not oblivious to the complaints that Nigerians were making, adding that it would do everything within its power and resources to regulate the downstream sub-sector of the petroleum industry effectively.

Some of the marketers explained that they were buying PMS from independent depots owners for N95 per litre against the N78 ex-depot price approved by the government.

Owing to the fact that supplies from the NNPC had been irregular, the marketers said they had no choice than to buy from depots selling above the regulated ex-depot price.


– Punch

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