NNPC warns against panic buying of kerosene

…Supplies 11m litres daily

By ADEWALE SANYAOLU
The Nigerian National Petroleum Corporation (NNPC), and Pipelines and Products Marketing Company (PPMC) have warned members of the public not to engage in panic buying of Dual Purpose Kerosene (DPK), assuring that there is enough stock to meet national demand.
According to its Acting Group General Manager, Public Affairs Division, Tumini Green, contrary to stories of alleged scarcity of the product, there is adequate supply of DPK. Green said the clarification had become necessary due to reports of scarcity of the product in some parts of the country.
“For avoidance of doubt, the NNPC, through its subsidiary PPMC, supplies between 10 to 11 million litres of kerosene daily, which is distributed through allocations to licensed marketers such as Independent Petroleum Marketers Association of Nigeria (IPMAN), Depot and Petroleum Products Marketers Association (DAPPMA), Major Oil Marketers Association of Nigeria (MOMAN) and NNPC Retail Limited who sell to the public through their respective retail outlets.
“It is therefore surprising to receive reports of scarcity despite that NNPC/PPMC supply above the eight million litres national daily consumption,” Green said.
The corporation disclosed that its findings had revealed that only the NNPC Retail Ltd. and few outlets sell DPK at the government approved price of N50 per litre while other marketers who purchase the product from PPMC at government regulated price of N40.90 sell above the recommended price.
She explained that it was the responsibility of other regulatory agencies to fix the price of kerosene and enforce compliance with the government approved prices, adding that it was equally the responsibility of the regulatory agencies to ensure that the allocated petroleum products, including kerosene, got to the consumer at the approved rates as intended by government.
In a related development, NNPC/PPMC said it has continued to clamp down on marketers and vessel owners who are suspected to be involved in sharp and unwholesome practices.
Besides, it said that in realisation of the need to implement government policy in providing cheaper domestic fuel abundantly to the Nigerian public, PPMC was working assiduously to ensure the provision of Liquefied Petroleum Gas (LPG) as alternative domestic fuel through the rehabilitation and commissioning of the LPG butanization plants at Ibadan, Kano, Gusau, Enugu and Gombe.
“We therefore call on all stakeholders to ensure that petroleum products, including kerosene, get to the public at government approved prices as severe sanctions await any defaulter. NNPC/PPMC will continue to work with all stakeholders to ensure even distribution of kerosene to all nooks and crannies of the country,” she said.