The Nigerian National Petroleum Corporation (NNPC) has attributed the increased in the price of household Kerosene in the country to the pressure of demand and supply.
The NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, told the Nigeria News Agency on Sunday in Abuja that the price of the product had been deregulated.
“The point remains that the prices of the kerosene is deregulated.
“It is not as controlled with reference to Premium Motor Spirit (PMS) known as Petrol, that is why we see the prices moving up and down.
“The important thing is that the trend you are seeing there had to do with supply and demand. The more the demand, the higher the price locally,’’ he said
Ughamadu said that the NNPC remained the sole importer of the product and had been augmenting it with the skeletal production from the refineries.
He reiterated the commitment of the corporation to the adequate supply of petroleum products for Nigerians.
“The corporation is doing everything to ensure that we import more volumes of kerosene because, we believe that this is the energy source that the low income earners in the country use,’’ he added
A check by NAN in some outskirt of the Federal Capital territory indicated that the price of Kerosene ranged between N400 and N500 per litre.
Most of the consumers buy the products from the road side.
At Dutse market, the price was N400 per litre while within Kubwa it is sold between N450 and N500 per litre.
Mrs Halima Saidu, a seller at Kubwa village market, told NAN that she buys from filling stations at different prices.
“I sell at N450 per litre now but if I buy at higher price at the filling station, I will sell above that,’’ she said.
It will be recalled that he National Bureau of Statistics (NBS) in its National House hold price watch in June said the average price per litre paid by consumers for Kerosene increased to N316.43 in June 2 from N315.91 in May.
The NBS said the price of kerosene increased by 0.17 per cent month-on-month and 13.14 per cent year-on-year in the period under review.
- Use National Health Act to fast track UHC, Anthropologist tells FG
- Pensioners beg FG over speedy payment of N20b arrears
- Passenger slumps, dies at Lagos airport
- Kaduna govt offers digital skills training to 360 youth
- NYSC to review collaboration with NHIS on healthcare of corps members
- FG investigating Sowore-DSS incident – Malami
- Obasanjo hails Gov. El-Rufai’s pan-Nigeria character
- Buhari congratulates Maryam Uwais at 60
- Bingham varsity commences post-graduate programme in communication
- FEC approves portal for import duty exemptions, N40bn for road projects
- Expect more road repairs in 2020, lawmaker tells Lagosians
- Food System Vision 2050 Prize: UNILAG group engages stakeholders across value-chains
- 2020: All Africans can come to Nigeria without visa – Babandede
- Buhari condemns killing of 67 soldiers in Niger Republic
- Shell takes free eyecare services to host community in Bayelsa
- Nasarawa to provide schools with water, sanitation facilities
- SDGs: Quality, inclusive education my priority – Gov. Sule
- States can’t withdraw from minimum wage agreement, law binding to all — NLC
- U.S. to provide life-saving HIV treatment to 43,000 people in Imo
- Bauchi govt.to spend N12 bn to build 2,500 houses in 2020–Official
- Farmer calls for establishment of livestock agency to boost beef, dairy production
- Putin condemns EU stance on Nazi-Soviet WWII pact as ‘shameless lie’
- U.S. aviation regulator not likely clear 737 MAX before end of 2019
- We are on track in improving Manchester United, Solskjaer says
- NiMet predicts sunny, hazy weather condictions for Thursday
- FG says tackling global health problems requires global disciplinary cooperation, expertise
- Makinde signs Oyo State Anti- Corruption Bill into law
- Yuletide: Sanwo-Olu’s wife urges Nigerians to be security conscious
- Defamation: Edo Ex-speaker demands N500m from APC chieftain
- Anthony Joshua to present world championship belts to Buhari soon
- NLNG signs sales deal with Vitol SA on Train 1, 2 and 3
- NOC sets up 4-man committee on AFN crisis
- Plateau Govt. repeals disability commission act, to enact new law
- HIV/AIDS: Kwara Dep. Gov. harps on regular medical check-up
- End your strike to allow for negotiation, NECA urges electricity workers
- Committee expresses determination to host successful Abuja 2020 Para-Powerlifting Championships
- LASG to convert Majidun Rehab Centre to psychiatric hospital – Commissioner
- Christmas: FRSC promises free flow of traffic on Kaduna highways
- LASTMA arrests 25 for driving against traffic
- 261 Ogun pilgrims depart for Jerusalem
- I will alleviate your suffering, Makinde assures pensioners
- Practitioners that violate CRFFN Act risk expulsion, says governing council
- Education, powerful tool for driving growth, human devt.–Oyebode
- Alleged pension scam: How Maina illegally acquired property in son’s name–EFCC witness
- YouTube updates harassment policy to ban implicit threats, insults
- HMD Global launches new devices to enhance creativity, excitement for users
- No ‘dark Christmas’: S African leader promises action over power cuts
- Nigerian reseacher flays promotion of bone marrow transplant for HIV/AIDS cure
- INEC tasks stakeholders on free, fair elections
- Commission issues Certificates of Return to 16 LG chairmen in Ekiti