NIGERIA may be headed for another round of
Kerosene crisis as the Federal Government has
directed petroleum depots to sell the Dual Purpose
Kerosene (DPK) at N73.37k per litre from the initial
price of N40.90k per litre it had set earlier. At the former price of N40.90k per litre, only Nige
rian National Petroleum Corporation (NNPC) outlets
sold at the recommended price of N50 .00. while
other filling stations sold at between N120.00 and
N150.00. The Federal Government had pegged price of Kero
sene at N50 per litre, making the product to be
scarce and prompting marketers to indiscriminately
hike the retail price to between N80 to N100 per
litre. But the latest directive on the new price was
contained in a memo to all petroleum products
marketers in country released by the PPPRA in
Abuja. The memo also circulated to petroleum depots at
the weekend enjoined them to comply with the
new ex- depot price of N73.37k per litre, although
it does not give more details on the pump price. Already the directive has elicited criticisms from the
Nigerian Labour Congress (NLC), which said the
price of kerosene should also be reduced as was
the case with petrol because they are products of
the same crude oil, the price of which has crashed
in the international market. This development means that with an increase of
more than 70 per cent, marketers would inevitably,
also hike the retail price of the product after adding
the associated charges. It also shows that whether it is at NNPC outlets or at
private filling stations, Nigerians would have to pay
more for kerosene. Reacting to the directive, the Independent Petro
leum Marketers Association of Nigeria (IPMAN), said
the new price template for kerosene announced at
the weekend by the Petroleum Products Pricing
and Regulatory Authority (PPPRA) would go along
way to alleviate the suffering of the Nigerian people who have paid so much for the product over the
years. The National President of the IPMAN, Elder Chinedu
Okoronkwo, said, the new price was commendable
and that marketers will comply immediately. “We shall study the template and make our position
known before the end of the week, but I must state
here that government has reasoned that even
when it was placed at N50 per litre end users ac
tually buy it at N120 to N130 per litre. “What is our concern now if for government to
redouble its efforts and ensure the product is made
available to marketers.
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FG Directs Depots To Sell Kerosene At N73.37k Per LitreCreated at 2016-01-28
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