NNPC Forces Diesel Price Down To N175 Per Litre Across Nigeria

The Nigerian National Petroleum
Corporation (NNPC) has forced
down the price of Automotive Gas
Oil (AGO), better known as Diesel,
to between N175 to N200 per litre
across the country, Vanguard
reports.


In a statement issued on Sunday by its
Group General Manager, Group Public
Affairs Division, Mr. Ndu Ughamadu, the
apex oil firm said that the price crashed
by 42 per cent over the last six months
from N300 per litre recorded earlier in
the year, due to strategic intervention
efforts by the NNPC towards sustained
improvement in the supply of the diesel.


He added that the intervention by the
corporation also ensured that ex-depot
prices of the commodity dropped to
between N135 and N155 per litre.
Ughamadu further said that in the first
quarter of 2017, retail prices of AGO,
which is one of the deregulated
products, shot to an all-time high of
N300 per litre in major demand centres
across the country.


He said 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.



Ughamadu highlighted some of the
NNPC’s strategic interventions in this
regard to include improving the supply of
AGO and remodeling of the product
distribution to address sufficiency issues
across the country.


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

The NNPC further disclosed that as a
result of consistent positive engagement
with the Central Bank of Nigeria (CBN), it
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,” he assured.