Reduction in petrol pump price from N87 per litre to N57 false – NNPC

The Nigerian National Petroleum Corporation (NNPC) has debunked reports of a purported reduction in the current pump price of petrol from N87 per litre to N57. A statement signed by NNPC’s Group General Manger, Group Public Affairs Division, Mr Ohi Alegbe, in Abuja on Monday described the report as false and misleading.

The statement advised members of the public to ignore such tales, adding that the price of petrol remained N87 per litre. It, however, said that a major step to ensure zero fuel queues throughout the country ahead of the forthcoming yuletide and beyond had begun off on Monday. It said that the steps were between the Group Managing Director of the NNPC, Dr. Ibe Kachikwu and members of the Major Oil Marketers Association of Nigeria (MOMAN) and the Depot and Petroleum Products Association, (DAPPMA).

The statement said NNPC and the key downstream operators reached a consensus to work together to eliminate all obstacles that could prevent the free flow of petroleum products across the country. It said the issue of uninterrupted supply and distribution of petroleum products across the country was important to the government.

The statement added that government was willing to take measures to ensure that members of the public did not go through any form of hardship in accessing petroleum products. According to the statement, Kachikwu promised to work with other relevant Federal Government agencies to fast track the outstanding payment to oil marketers.

It said Kachikwu promised to arrange for a meeting with the relevant creditors (bankers) to ease off pressure on marketers and extend the credit lines. It said that several financing mechanisms were being explored to offset the commitment to oil marketers. The statement said that the Secretary-General of MOMAN, Mr Femi Olawore, commended the GMD for his support.

It said that Olawore pledged the readiness of the marketers to work assiduously with the government in ensuring zero fuel scarcity across the nation. The statement said Olawore called on NNPC GMD to facilitate the emergence of a special committee to verify and authenticate the current national fuel consumption figure of 40 million litres per day.

The statement also said Chief Dapo Abiodun, Chairman of DAPPMA, commended the NNPC for its improved services at various product loading facilities and urged the management to sustain the tempo