- As petroleum product floods market, Nigerians may experience relief by buying fuel whenever they need it
- Filling stations across the country have products to sell because more depots have stock
- Nigerian National Petroleum Corporation has made this possible by bringing more cargoes almost on daily basis
With the ex-depot price of petroleum product gradually returning to normal at the weekend as the Nigerian National Petroleum Corporation (NNPC) floods the market with petrol, motorists and other users of the product may soon experience permanent relief.
Eighteen depots had stock at the weekend, with most of them selling at N139-N136.50 per litre. This development made petroleum product available, This Day reports.
NAIJ.com noted that all the six major oil marketers - Conoil, Forte Oil, Mobil Oil, Oando, MRS and Total also had stock of petrol, which they were loading out to only their branded filling stations.
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It was learnt that the major marketers sell at N145 per litre to their dealers at the depots and these dealers also sell at the same N145 at the filling stations.
The major oil marketing companies pay special margins to their dealers to encourage them to sell at N145 at the pumps.
According to some marketers, the improvement in supplies is attributable to the flooding of the market by the NNPC.
One of them said: “There is product everywhere now because more depots have stock, unlike before. NNPC is bringing more cargoes almost on daily basis. If you go to some filling stations, you will see some attendants on the roadside beckoning to motorists to come and buy fuel.”
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Meanwhile, NAIJ.com previously reported that the group marketing director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, urged petroleum marketers to stick to the N145 per litre approved pump price for petrol.
Baru gave the charge in Abuja, the nation’s capital, on Wednesday, February 14, while presenting a commendation letter to Victoria A Samson, the managing director of BOVAS & Company Ltd, an Ibadan-based petroleum marketing company, for consistently selling fuel at N145 per litre.
The development was made public in a statement sent to NAIJ.com, which was signed by Ndu Ughamadu, NNPC group general manager, Public Affairs Division.
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Source: Naija.ng