N123/litre: NNPC outlets, others defy FG’s directive

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Two weeks after the Federal Government reduced retail pump price of Premium Motor Spirit (PMS), popularly called petrol,  from N145 per litre to N123.50, majority of the Nigerian National Petroleum Corporation(NNPC) fuel stations have yet to comply with the directive.

This was as the NNPC weekend said  all of its over 600 retail outlets adjusted to the new price immediately the pricing regulatory agency came up with the new price band of between N123.50 and N125.

Investigations by Daily Sun across most NNPC retail outlets in Lagos revealed non-compliance by its fuel stations as they were yet to adjust their pump price to N123.50.

A visit to the NNPC fuel stations on Charity Road, Iju Road and College road, all in Ifako Ijaiye Local Government in Lagos, revealed that they were yet to revert to the new pump price of petrol.

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Also in this category of non-compliance are fuel stations belonging to members of the Major Oil Marketers Association of Nigeria (MOMAN) and that of Independent Petroleum Marketers Association of Nigeria (IPMAN.

Majority of the operators of the fuel stations who spoke to Daily Sun claimed that they were yet to dispense of their old stock cited  as a reason for their inability to comply with the new pump price.

They lamented the lockdown has badly affected sales volume, with a 33,000 litre of petrol usually  sold in 2-days now lasting as much as  3-days.

But the NNPC had in a statement last week, said that all its filling stations across Nigeria were selling petrol within the official price band announced by the Petroleum Products Pricing Regulatory Agency (PPPRA) for the month of April.

The Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, who quoted the Managing Director of NNPC Retail Ltd, Sir Billy Okoye, as saying that all of the company’s over 600 retail outlets adjusted to the new price immediately the pricing regulatory agency came up with the new price band of between N123.50 and N125.

The NNPC Retail boss explained that the company was the first in the country to comply with the PPPRA price advisory issued on 19th March, 2020, by adjusting its pumps to N125 per litre from the old price of N145 per litre.

“Last week, (now two weeks), the PPPRA announced the new pump price range of N123.50 to N125 for the month of April 2020. What this means is that all stations in Nigeria cannot sell below N123.50 and cannot sell above N125 per litre for the month of April 2020.

READ ALSO:No more petrol subsidy — NNPC

NNPC Retail Ltd is fully complying with the PPPRA directive as we are neither selling below N123.50 nor selling above N125 per litre in all NNPC Retail’s stations nationwide,” Sir Okoye affirmed.

He said NNPC Retail Ltd prides itself as the company with the best in terms of price, products quality and quantity (meter integrity), stressing that the company and its stations, being part of the NNPC, were owned by Nigerians and so would always strive to protect the interest of Nigerians.

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He disclosed that the company was planning to extend its services to neighbouring West African countries, having introduced its high quality lubricants into the market recently as it works to consolidate on its role  as a state-owned company for the economic benefit of Nigerians.

Okoye called on members of the public to always use any of the company’s feedback mechanisms well displayed at all its retail outlets to report any sharp practices, adding that the management would not fail to sanction erring dealers.

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