The Nigerian National Petroleum Corporation (NNPC) has said
that the price of automotive gas oil (AGO), also known as diesel, is now as low
as N155/litre in some fuel stations around the country.
According to the NNPC, its “strategic intervention” ensured
the continued decrease in the price of diesel.
The price of diesel recently crashed by about 42%
nationwide, after having spiked to an all-time high of
N300/litre in the first
quarter of 2017.
“A national survey by Oil and Gas Forum, NNPC’s weekly TV
programme, indicated that in the last few weeks, the price of diesel has fallen
steadily from between N175 and N200 per litre as at June 18, 2017, to as low as
between N155 and N160 per litre in some stations across the country as at last
week.
“The study showed that NNPC Mega Stations and its affiliates
across the country sold the product for N160 per litre while many major and
independent marketers in Abuja, Lagos, Kaduna, Onitsha, Enugu, Makurdi and most
major cities were selling between N160 and N165 per litre. In Port Harcourt the
average price is as low as N150 per litre.
“The manager of a fuel retail station in Abuja, Ibrahim
Isah, said the station had to reduce the selling price to N165 per litre in
line with the prevailing market situation in order to sustain the turnover of
the business.
“An independent marketer in Makurdi, Innocent Abbah, said
the going ex-depot price of diesel from tarmac or local private depots is N155
per litre.
“However, the situation is slightly different in Asaba and
Warri in Delta State and Uyo in Akwa Ibom state where most independent fuel
stations as well as major marketers sold the product for N180 per litre,” a
statement by Ndu Ughamadu, Group General Manager, Public Affairs Division,
said.
NNPC also added that its “robust” interface with key stakeholders
in the downstream sector, also contributed to the steady decline of diesel
price, especially after “salient issues” were resolved.
“The corporation has also taken huge steps to resuscitate
some of its critical pipelines and depots such as the Atlas Cove – Mosimi Depot
Pipeline, Port-Harcourt Refinery – Aba Depot Pipeline, Kaduna – Kano Pipeline
and the Kano Depot which have enhanced efficiency in the distribution of AGO.
Efforts are also ongoing to revamp and re-commission other critical pipelines and
depots across the country,” the statement read.
By Ifreke Inyang
