Nigerians To Face Harder Times As NNPC Increases Kerosene Price To N220


With the new change in kerosene price, Nigerians will now purchase the product from filling stations at the price of N220 per litre while marketers will buy from NNPC depot at the official rate of N150 per litre, according to the Nigerian National Petroleum Corporation (NNPC).

This information was disclosed by Alhaji Tokunbo Korodo, the South-West Chairman of the Union of Petroleum and Natural Gas Workers (NUPENG) while speaking during an interview with the News Agency of Nigeria (NAN) in Lagos on Saturday.

This is coming a few months after the removal of fuel subsidy which brought about the official N145/litre pump price for petrol and according to Mr. Korodo, the kerosene price will motivate more importation of kerosene by the marketers.

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He explained that most of the filling stations were selling kerosene between N200 and N220 as the pump price because of additional money spent on the transportation of the product and some other levies paid by marketers.

Nigerians To Face Harder Times As NNPC Increases Kerosene Price

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His words:

“The NNPC has fixed N150 per litre as the new depot price of kerosene and has directed all its depots and private depot to comply with the directive.

“This did not include the transportation of the product or several levies and bank interests paid by marketers.

“Consequently, marketers will now add all these expenses to the depot price to arrive at N190, N200 or N220 depending on their locations.

“The advantage of this is that it will open door for more marketers to commence importation of kerosene just like petrol.”

Meanwhile, just recently, the Emir of Kano Muhammad Sanusi II made it known that the payment of fuel subsidy was an opportunity to enrich some people at the expense of the entire country.

He said this while delivering a lecture on the Deregulation of the Downstream Oil Sector and Nigeria’s Economic Development at the National Defence College in Abuja on Wednesday, August 3, further asserting that the whole fuel subsidy payment was a scam as it was presented to favour the poor when actually, it was enriching some people.

Sanusi went on to say that Nigeria was losing $20 million for every 30,000 metric tons of kerosene imported into the country.