By Michael Eboh
NNPC Retail Limited, one the downstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), yesterday, disclosed that all its over 600 filling stations across the country had complied with the reduction in the price of Premium Motor Spirit (PMS), also known as petrol, and are currently selling the commodity at between N125.30 and N125 per litre.
In a statement in Abuja, Managing Director of NNPC Retail Limited, Sir Billy Okoye, stated that all of the company’s petrol retail outlets adjusted to the new price immediately the Petroleum Products Pricing Regulatory Agency (PPPRA) announced the price band for April.
He 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.
He noted that the NNPC Retail 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, we’re owned by Nigerians and so would always strive to protect the interest of Nigerians.
He disclosed that the company was planning to extend its services to neighbouring West African countries, noting that having introduced its high-quality lubricants into the market recently, its goal is to consolidate on that 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 practice, adding that the management would not fail to sanction erring dealers.
He said, “Last week, 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.
“NNPC Retail Limited 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.”
In a related development, the NNPC further assured Nigerians of availability of sufficient petroleum products to guarantee hitch-free celebration of Easter.
Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Musa Lawan, stated that although there were restriction of movement orders in parts of the country, PPMC had maintained steady supply of petroleum products across the country, adding that the company has enough products in its marine and land depots that could last another two months.
He said, “I want to assure Nigerians that the PPMC has enough petroleum products to go round as they prepare to celebrate Easter. We have up to 2.53billion litres both in marine and in our inland depots. There is enough petroleum products in stock, and as we speak, some vessels laden with petroleum products are en route to the country.”
He revealed that the PPMC would soon automate its processes, maintaining that the deployment of the application would reduce face-to-face interactions with marketers and promote transparency of all its operations.
He commended the Association of Distributors and Transporters of Petroleum (ADTOP), the Independent Petroleum Marketers Association of Nigeria (IPMAN), National Union of Petroleum and Natural Gas Workers (NUPENG), Petroleum Tanker Drivers (PTD), National Association of Road Transport Owners (NARTO), operations staff at the depots and other stakeholders for ensuring the free flow of petroleum products to every nook and cranny of the country in spite of the restriction of movement in some states of the Federation.
He also urged Nigerians to avoid panic buying or stock-piling of petroleum products because of the associated danger and risks.