NNPC dissociates self from kerosene price hike

The Nigerian National Petroleum Corporation (NNPC) says it is unaware of any increase in the official ex-depot price of kerosene. 

The Pipelines and Product Marketing Company (PPMC), a subsidiary of the NNPC, was reportedly said to have increased the ex-depot price from N75 to N135 per litre with effect from yesterday.

The last retail price the agency fixed for kerosene was N83/litre in January 1, 2016. Spokesman for the agency, Lanre Oladele, did not respond to phone calls made to him. From an average N155 per litre in April, the price of kerosene rose to N165 in May and now over N200 per litre due to scarcity of the dollar to import the product. Kerosene consumers also said the price of the product at retail and other dispense openings had been rising since April. An official of the Independent Marketers Association of Nigeria (IPMAN) Alhaji Abubakar Maigandi, said: “From private depot we buy at the rate of N182/litre and sell N200 and above at retail stations.” However, some independent marketers told the Daily Trust that ex-depot price of the product was far above N135/litre and around N200/litre at retail outlets. But the spokesman of the NNPC, Garba Deen Muhammadu, said that the corporation was unaware of any such increase.