He disclosed that NNPC had increased its daily truck-outs of PMS from 1,733 to 2000 per day to address the scarcity of the products in the hinterlands, saying the Corporation was poised to flood the market with petrol to return the situation to normalcy across the country.
“Those marketers that have hidden products in odd locations, you better bring them out and sell to the public at N145 per liter maximum. If NNPC sold it to you at N133.28, you have sufficient margin within that ambit to be able to supply and sell to the public at maximum N145 per liter.”
He said about 24 trucks laden with petrol meant for Abuja were diverted to some states in the South Eastern part of the country, adding that the defaulting marketers have been identified and would be sanctioned accordingly.
According to him, NNPC is winning the war and putting in place adequate measures to ensure the product is easily accessible to the people in all parts of the country.
Princewill Demian 27 December 2017, Sweetcrude, Abuja – A combined team of the Nigerian National Petroleum Corporation (NNPC), Department of…
“Right now, the landing cost of the PMS is N154. If you are importing at N305 to the dollar, by the time you add bank charges, it comes to N307 to the dollar. If you apply that to the current crude price, the landing cost is N154-N155. By the time you add all the margins, the pump price is about N160-N167.”
Saidu also disclosed that more intelligence units from the regulatory agency are liaising with the public to get information for on-the-spot checks since the scarcity began a couple of weeks ago.
It was observed that some filling stations the Federal Capital Territory, Abuja, and its environs, were shut on Sunday, while the few that sold petrol had very long queues that spilled onto the roads.
“This your proposed figure for foreign trips in the 2018 fiscal year is too high and must be drastically reduced before presenting it to the senate for approval. Even the N60.2 million proposed for local trips in terms of monitoring is also on the high side and may also be reviewed downward.”
“Any depot or filling stations that hoard products, we have been directed that it should be sold freely to Nigerians. Of course, the genesis of the whole problem was the proposed increase in price, but we have debunked that and people should not indulge in panic buying.”
