NNPC reassures no plans to hike price of PMS, extends credit line to depot owners
The Nigerian National Petroleum Corporation (NNPC) has described as very unfortunate a statement credited to the Depot and Petroleum Products Marketers Association (DAPPMA) on the fuel supply situation, especially Premium Motor Spirit (petrol).
NNPC wishes to affirm that it has supplied appreciable volume to DAPPMA, Major Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) to rid the challenges currently being experienced in the supply and distribution of petroleum products in the country.
NNPC regrets that DAPPMA which members had taken receipts of products from Petroleum Products Marketing Company (PPMC), a subsidiary of NNPC and owe the company to the tune ofN26.7billion as at December 21, 2017, has the audacity to indict NNPC unjustifiably.
The statement by DAPPMA that the current hiccups in the supply of products was due to the inability of the Direct Sale Direct Purchase (DSDP) partners of NNPC to deliver on their business obligations is unfounded and self-indicting as many of DAPPMA members patronize the same DSDP international counterparts as the corporation.
Despite the concession by the government giving access to DAPPMA to obtain FOREX at an official rate of N305 per dollar for PMS import, their members have not been able to do so, leaving NNPC as the sole supplier of PMS to the Nigerian market.
NNPC assures the public that despite the increase it effected in the supply of PMS in the December 2017, it has nonetheless, programmed to supply 1.2billion litres of the white products in January 2018, translating to about 40million litres of PMS supply per day. Ordinarily, Nigeria consumes about 700 trucks (about 27million – 30million) litres per day.
Despite the current challenges, Nigerians are reassured that there is no plan to increase PMS pump price above N145/litre and that NNPC will continue to maintain ex–depot price ofN133.28/litre which guarantees the pump price not exceeding the N145 per litre capped by the government.
All stakeholders are implored to support the efforts of government to bring a speedy end to the current fuel distribution challenges being experienced in parts of the country as this is not the time to play the blame game.