NEW FUEL PUMP PRICE IMPLEMENTED FOR PETROL IN NIGERIA

 

FUEL PUMPING MACHINE

The directive of the Federal Government of Nigeria that petrol (pms) is sold at N86 per liter for NNPC retail stations and N86.50k for other marketers with effect from January 1, 2016 is reported to be taking effect.

The News Agency of Nigeria (NAN) whose correspondent visited some fuel stations at the federal capital, Abuja reported that the product was available in sufficient quantity with standby trucks also bearing petrol. However, it was noticed most of the fuel stations in Abuja such as Conoil, Oando, Total and Mobil filling stations which are located within the city center experienced low turnout of motorists.

The sales representative of the NNPC, Mr Suleiman Mohammed, who is also a Supervisor of FCT retail stations, said that the new price took effect from 12 a.m. on Jan. 1, 2016. and he confirmed that all NNPC stations in the FCT have substantially complied with the new directive.

He confirmed that the NNPC Mega Station on the Olusegun Obasanjo Way in Abuja presently had over 200,000 liters of petrol and four standby trucks containing 45,000 litres each.

Mr. Mohammed advised the FCT residents not to go into panic as petrol stations in the nation’s capital had sufficient products to dispense. An independent Marketer and Manager of Oando filling station along Olusegun Obasanjo Way in Wuse Zone 1, Abuja, said the station had taken steps to comply with the new directive but was experiencing low patronage. He stated that the station had over 300,000 liters of the product both in its storage stock and in an standby trucks.

An investigation by NAN revealed that other stations such as Conoil, Total filling stations in Wuse Zone 2, Abuja, also witnessed low patronage, except Mobil filling station in Utako, Abuja, which had appreciable number of customers.

Some motorists who were waiting to buy the product expressed happiness that the product was readily available and being sold at the government approved price. They called on the government to ensure constant availability of the product.

It would be recalled that the Federal Government had directed all retail stations of the NNPC to sell petrol at N86 per liter as from today, January 1. The independent petrol marketers were also directed to sell at N86.50k a liter.

The Executive Secretary, Mr Farouk Ahmed, of the Petroleum Products Pricing Regulatory Agency (PPPRA), had disclosed the new prices at a news conference on Tuesday in Abuja. He said that the price reduction due to an implementation of the revised components of the Petroleum Products Pricing Template for PMS and Household Kerosene.