NIGERIA may be headed for another round of Kerosene crisis as the Federal Gov­ernment has directed petro­leum depots to sell the Dual Purpose Kerosene (DPK) at N73.37k per litre from the initial price of N40.90k per litre it had set earlier.

At the former price of N40.90k per litre, only Nige­rian National Petroleum Cor­poration (NNPC) outlets sold at the recommended price of N50 .00. while other fill­ing stations sold at between N120.00 and N150.00.

The Federal Government had pegged price of Kero­sene at N50 per litre, making the product to be scarce and prompting marketers to in­discriminately hike the retail price to between N80 to N100 per litre.

But the latest directive on the new price was contained in a memo to all petroleum products marketers in coun­try released by the PPPRA in Abuja.

The memo also circulated to petroleum depots at the weekend enjoined them to comply with the new ex- de­pot price of N73.37k per litre, although it does not give more details on the pump price.

Already the directive has elicited criticisms from the Nigerian Labour Congress (NLC), which said the price of kerosene should also be reduced as was the case with petrol because they are prod­ucts of the same crude oil, the price of which has crashed in the international market.

This development means that with an increase of more than 70 per cent, marketers would inevitably, also hike the retail price of the product after adding the associated charges.

It also shows that whether it is at NNPC outlets or at pri­vate filling stations, Nigerians would have to pay more for kerosene.

Reacting to the direc­tive, the Independent Petro­leum Marketers Association of Nigeria (IPMAN), said the new price template for kero­sene announced at the week­end by the Petroleum Prod­ucts Pricing and Regulatory Authority (PPPRA) would go along way to alleviate the suffering of the Nigerian peo­ple who have paid so much for the product over the years.

The National President of the IPMAN, Elder Chinedu Okoronkwo, said, the new price was commendable and that marketers will comply immediately.

“We shall study the tem­plate and make our position known before the end of the week, but I must state here that government has reasoned that even when it was placed at N50 per litre end users ac­tually buy it at N120 to N130 per litre.

“What is our concern now if for government to redou­ble its efforts and ensure the product is made available to marketers.

http://www.musbizubeat.com/2016/01/fg-directs-depots-to-sell-kerosene-at-n73-37k-per-litre/

Good

We need to get rid of this selfish cabal. Pure greed!!!

Hmm...

I think this is good news

Corruption is high in oil sector than any other sector in Nigeria..... Cold dey here ooo....

This is what happens when mediocres finds them selves in position of Authority! This guy up there is just clueless!! Same thing they all accused Jonathan of. Now I don't get who's more clueless between Jona and Buhari! Jona is still far Better despite the criticism against his administration. This government has no clear policy direction! Members of his cabinet are all product of political settlement. Shakes my Head!! Sad thing here is we have a Rubber stamp as minister of Finance.

Good

Such a useless thing to say, the marketers would take advantage of the situation and the masses again would be the one bearing the brunt.

The price had not dropped randomly even before this time

Crazy country....I concur with sen ben murray bruce on dis issue

cool

Ok

Hmmmmmmm.... Sometimes, Niger govt just get me speechless!

sai changi... now we will buy a litre for 320....lol

hyper-clueless government

Better

Well I really can't say if this news is good or not cus I can't really remember using kerosene for anything except burning hipped up diets.

I hope it's gonna be favourable to the constant users.

Walahi FG no get themselves.

Naija sha

























Na only you WAKA come ?

Where is dis country heading to?
I just pray dis will affect the nation positively on the long run.. I put my faith in God not any Politician to move dis nation to d right path.

WHy wouldn't this thing just be deregulated completely?? Why must the government keep fixing prices??

Meanwhile for those complaining of a change in price from N50, did you or anyone you know ever buy kerosene for N50??

Hmmm

Our wail must continue because it keeps exposing APC's scam. The more we disgrace them publicly, they have no choice than to step up in shame.

Meanwhile, they must bring it down to N50.

Thank God for senator Ben Bruce for tirelessly opening their nyanshh

Apc is a clueless political party. their end will soon come. their change has only succeeded in destroying the economy of the country.

Will they obey?

Fuel nko