NNPC Crashes Diesel Price

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The Nigerian National Petroleum Corporation, NNPC, has said its sustained intervention led to the crash in price of diesel. The state oil company said the price climbed down from N175 to N200 to its current price of between N155 and N160 per litre. It was revealed the product is sold for N160 per litre at NNPC Mega Stations and its affiliates while many major and independent marketers in Abuja, Lagos, Kaduna, Onitsha, Enugu, Makurdi and most major cities sell between N160 and N165 per litre. An NNPC survey said diesel sells for as low as N150 per litre in Port Harcourt. Prior to now, the product was being sold at an all-time high price of N300/litre in major demand centres across the country.

Also, it said steady supply and distribution of the product was due to its engagement with critical downstream stakeholders such as Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers.

Moreover, the NNPC said the resuscitation of 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 enhanced efficiency in the distribution of AGO.

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