Energy consumers hail as NNPCL drops PMS price to N965 at retail outlets in Abuja

*The Nigerian National Petroleum Company Limited effects its new N965 retail price of the Premium Motor Spirit, otherwise called petrol, at its retail outlets in Abuja, FCT, as energy consumers have also urged the state oil firm to extend the reduced pump price to its other filling stations across the West African country

Isola Moses | ConsumerConnect

In regard to its latest assurance to Nigerians to further reduce the pump price of the energy product, the Nigerian National Petroleum Company Limited (NNPCL) has effected the new N965 per litre price of the Premium Motor Spirit (PMS), otherwise called petrol across its retail outlets in Abuja, Federal Capital Territory (FCT.

ConsumerConnect reports the retail price of petrol at the NNPCL’s filling stations has dropped to N965 per litre in the FCT, making the new pump price the NNPCL’s second price drop in less than two weeks from previous N1,060 per litre of PMS December this year.

Checks at a number of filling stations of the state oil company afternoon Monday, December 23 also indicated the NNPCL had effected the new price across its retail outlets in Abuja, to the delight of energy consumers.

At its mega station located along Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, the price of the commodity was sold at N965 per litre with commuters scrambling to join the long queue.

A driver, simply identified as Hassan, who also confirmed the price drop to The Punch Monday commended the NNPCL on the development, but advocated a uniform across all stations in Nigeria for easy access, especially during the festive season.

Confirming the drop in PMS price, Hassan reportedly said: “Yes, NNPC has reduced its price to N965. I bought it this morning, but the queue is too long.

“Maybe because other stations are selling at a different price.”

Another commuter said the latest development would ease off pressure on seevral Nigerian consumers, especially travellers during the holiday period.

The gesture, said the consumer, shows that the state-owned NNPCL “is working hard to provide cheap and sufficient energy for Nigerians.”

The Portharcourt Refinery is a 210,000 barrels per day Refinery. The refinery is expected to operate in full capacity by 2025.

“Attempts were made in the past to revamp the plants, but unfortunately, they failed. However, this current team, which has championed this noble and remarkable initiative, has done an excellent job.

I have seen the columns, the heat exchangers, the desalter, and the sample points. The refining process is taking place, and the products are real,” former Group Managing Director of the NNPC, Engr. Andrew Yakubu said in a recent remark.

 

The independent and major marketers, however, still sold their products between N1,030 and N1,070 across various locations in the FCT as of Monday morning, according to report.

Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) Sunday, December 22 disclosed the members of the Association would sell petrol at N935 per litre to consumers, effective from Monday, in view of the latest business arrangement with the Dangote Petroleum Refinery, in Lagos.

Maigandi Garima, National President of IPMAN, said the reduction in Dangote Refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics in Nigeria.

Kindly Share This Story