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NNPC Pegs Kerosene At N150 Per Litre


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The Nigeria National Petroleum Corporation (NNPC) has fixed the official depot price of kerosene in the country at N150 per litre.

This was disclosed by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) in an interview with the News Agency of Nigeria (NAN).

South-West Chairman of NUPENG, Tokunbo Korodo, told NAN during the interview in Lagos that the commodity would sell at filling stations across the country between N200 and N220 per litre.

Mr Korodo said the new price will encourage more importation of the product by the independent marketers.

He explained that most of the filling stations would sell the kerosene between that price range because of additional money on transportation of the product and some other levies paid by marketers.

“The NNPC has fixed N150 per litre as the new depot price of kerosene and has directed all its depots and private depot to comply with the directive.

“This did not include the transportation of the product or several levies and bank interests paid by marketers.

“Consequently, marketers will now add all these expenses to the depot price to arrive at N190, N200 or N220 depending on their locations.

“The advantage of this is that it will open door for more marketers to commence importation of kerosene just like petrol,” Mr Korodo said.

He further explained that at the moment, the NNPC was the only importer of kerosene into the country.

Mr Korodo applauded the Federal Government for its transparent policy in oil and gas sector and appealed to the NNPC to commence loading of its products from depots nationwide.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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