NNPC Crashes Diesel Price Nationwide by 42% | Welcome to Linda Ikeji's Blog

LI_Leaderboard_4

LI_Leaderboard_1

LI_Leaderboard_2

LI_Leaderboard_3

Sunday, 18 June 2017

NNPC Crashes Diesel Price Nationwide by 42%

NNPC has announced a 42% in the reduction of price for diesel nationwide. This is contained in a press statement released by the corporation this evening. Read it below
Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC).
It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.

Such unpleasant situation placed a huge burden on truck drivers, who need the product for transporting their vehicles; the nation’s manufacturing sector, which requires it to run its operations as well as on the masses, who need it for household power generation.

However, following strategic intervention efforts by the NNPC towards sustained improvement in the supply of the diesel, the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.

Shedding more light on this remarkable achievement, NNPC Spokesperson, Mr. Ndu Ughamadu, said some of the Corporation’s strategic interventions in this regard include improving the supply of AGO and remodeling of the product distribution to address sufficiency issues across the country.

“Since January this year, we have worked very hard with relevant stakeholders to improve distribution from refinery depots, by implementing a robust loading programme,” Ughamadu affirmed.

Also, in its quest to enhance efficient distribution of AGO, the Corporation was able to resuscitate its critical pipelines and depots in places such as Atlas Cove-Mosimi, Port-Harcourt Refinery-Aba and Kaduna Refinery-Kano. Efforts are also ongoing to revamp and commission other critical pipelines across the country.

Another key intervention that has enhanced supply and distribution of diesel, the NNPC Spokesperson noted, was the Corporation’s robust engagement with critical downstream stakeholders where salient issues were raised and duly addressed. These stakeholders include: Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers.

Furthermore, as a result of consistent positive engagement with the Central Bank of Nigeria (CBN), NNPC equally extended the expansion of Premium Motor Spirit (PMS) Foreign Exchange Intervention Scheme to accommodate Diesel and Aviation Fuel.

The general public is hereby assured that the Corporation would continue to ensure seamless supply and distribution of diesel and other petroleum products across the country to make the lives of Nigerians better.

20 comments:

Vivian Reginalds said...

Good
-D great anonymous now as Vivian Reginalds

Peter Ipuole said...

Enter your comment...good news APC change is a gradual process

Joyous babe, Linda Ikeji FIrst Cousin said...

Issokey.

NaijaDeltaBabe said...

Nice


... Merited happiness

Anonymous said...

Nonsense. When it moved from N180 Nov 2016 to 300 in Jan 2017 u did not accept responsibility. Now that low demand due to increased power supply has forced the price down you are calling press conference. Kindly return the price to where you met it in May 29, 2015.

Akeem Opayemi said...

For window blinds wallpapers and curtains please call 08160856785.

Okus Emma said...

Fools and 419 Government. Animals in Human Clothes
How much was it when you got into Government.
We have the records
Stupid people

Unknown said...

Namaste

Bakare Moshood said...

Namaste

Mboy said...

Let them extend d hands of fellowship 2 PMS also. Petrol should be less than #100 to begin d change 4m there...

Nigeria of Our Dream said...

Good one here

cedo Edosa said...

How much was AGO before APC came on board, why do we get deceived so easily? Why do Nigerians fall for this? The price of diesel ought to be less than N100 if we have a competent govt and one that cares about its people. Am ashamed to be a Nigeria and I say this with no regrets.

cedo Edosa said...

How much was AGO before APC came on board, why do we get deceived so easily? Why do Nigerians fall for this? The price of diesel ought to be less than N100 if we have a competent govt and one that cares about its people. Am ashamed to be a Nigeria and I say this with no regrets.

Anonymous said...

Is this news truly worth celebrating? If NNPC, despite its decades of existence, keeps on stumbling and can't seem to get its act together, then it's ludicrous to expect the public to celebrate over the very service it was commissioned to provide. All I see here is an inept organization that failed in it's constitutional responsibilities and expect accolades from the public for finally acting right. What an insult!

Anonymous said...

ko ni yeh yin.....so u even hick the price of deisel to that level now the new price to u is reduction?....deisel yen loma joyin pa,eyin oloshi rada rada yii.

Seun said...

ko ni yeh yin.....so u even hick the price of deisel to that level now the new price to u is reduction?....deisel yen loma joyin pa,eyin oloshi rada rada yii.

AMIJEZ said...

One good thing in this govt.

Anonymous said...

Oh, how our people perish for lack of knowledge....

Anonymous said...

All I see in this apc govt is falsehood, lies, deception, incompetence, deceit...we need to kick out this corruption out of our systems very fast

Anonymous said...

Good

Recent Posts