Monday, 12 October 2015

NNPC denies plan to reduce pump price of petrol to N57


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NNPC 
Nigerian National Petroleum Corporation, NNPC, yesterday debunked reports that the pump price of petrol would be reduced from N87 to N57 per litre.
NNPC, in a statement in Abuja described the report as false and advised members of the public to ignore such tales noting that the price of petrol remains N87 per litre.
The corporation also announced a major step towards ensuring zero fuel queues throughout the country ahead of the forthcoming yuletide and beyond.
The move kicked off yesterday with a meeting between the Group Managing Director of the Corporation, Dr. Ibe Kachikwu and members of the Major Oil Marketers Association of Nigeria, MOMAN alongside Depot and Petroleum Products Association, DAPPMA, at the NNPC Towers, Abuja.
According to a statement by the Corporation, at the end of the session, NNPC and the key downstream operators reached a consensus to work together to eliminate all obstacles that could hamper free flow of petroleum products across the country.
Addressing the downNistream stakeholders, Dr. Kachikwu stated that the issue of uninterrupted supply and distribution of petroleum products across the country is of utmost importance to the present administration.
He noted that government is willing to do everything possible to ensure that members of the public do not go through any form of hardship in accessing petroleum products particularly PMS.
On the protracted issue of outstanding payment to oil marketers, Dr. Kachikwu promised to work with other relevant Federal Government agencies to fast track the payment of the outstanding numbers, promising in the interim to arrange for a meeting with the concern creditors (bankers) to ease off pressure on marketers and extend the credit lines.
He noted that several financing mechanism are being explored to offset the commitment to oil marketers. Hinting at the possibility of exploring the monthly payment option, Dr. Kachikwu said:
“In future we may explore some creative means to prevent backlogs.’’ Speaking on behalf of MOMAN, Femi Olawore, Secretary General of the major marketers commended the GMD for his support and pledged the readiness of the marketers to work assiduously with the Federal Government in ensuring zero fuel scarcity across the nation during the coming yuletide and even beyond.
Olawore called on Dr. Kachikwu to facilitate the institution of a special committee to verify and authenticate the current national PMS consumption figure of 40 million litres per day.
Also Chief Dapo Abiodun, Chairman of DAPPMA commended NNPC for what he termed improved services at various PPMC product loading facilities and urged the new management of the company to sustain the tempo.

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