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Kerosene to sell for N135 as from Monday

28 July 2016, 18:46

Abuja - Indications have emerged that the price of kerosene will be increased to N135 from N75 as from Monday, Thisday reports.

It was gathered that the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has decided to increase the price to N135 per litre with effect from Monday, after the next consignment of about 17 000MT capacity imported vessel arrives Lagos this week.

Officials of PPMC were said to allocate the product to marketers at ex-depot price of N73 per litre, while the marketers sell to the public at over N180 per litre.

In a circular number: PPMC/MKT/IBN/01/2016, signed by one LNS Madubuike, the PPMC had directed marketers to pay N73 per litre for kerosene imported by the company. The marketers, however, sell the product to the public at between N180 and N250 per litre.

NNPC’s spokesman, Garuba Deen Muhammadu said that he would find out the true situation from the PPMC before responding to the issues raised.

But it was gathered that PPMC has been the sole importer of kerosene as the private marketers use their limited foreign exchange to focus on the importation of petrol.

News24 had reported earlier in the month of an imminent increase in the price of kerosene.

- News 24

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