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NNPC Crashes Diesel Price Nationwide By 42% - Politics - Nairaland

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BREAKING: NNPC “crashes Price Of Petrol, Cooking Gas” Nationwide / NNPC Crashes The Prices Of Petrol And Cooking Gas Nationwide / Marketers Blame Drop In Diesel Price To Competition (1) (2) (3) (4)

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NNPC Crashes Diesel Price Nationwide By 42% by Nobody: 1:13am On Jun 19

NNPC Crashes Diesel Price Nationwide by 42%


http://nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/806/NNPC-Crashes-Diesel-Price-Nationwide-by-42.aspx


Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC).

It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.

Such unpleasant situation placed a huge burden on truck drivers, who need the product for transporting their vehicles; the nation’s manufacturing sector, which requires it to run its operations as well as on the masses, who need it for household power generation.

However, following strategic intervention efforts by the NNPC towards sustained improvement in the supply of the diesel, the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.

Shedding more light on this remarkable achievement, NNPC Spokesperson, Mr. Ndu Ughamadu, said some of the Corporation’s strategic interventions in this regard include improving the supply of AGO and remodeling of the product distribution to address sufficiency issues across the country.

“Since January this year, we have worked very hard with relevant stakeholders to improve distribution from refinery depots, by implementing a robust loading programme,” Ughamadu affirmed.

Also, in its quest to enhance efficient distribution of AGO, the Corporation was able to resuscitate its critical pipelines and depots in places such as Atlas Cove-Mosimi, Port-Harcourt Refinery-Aba and Kaduna Refinery-Kano. Efforts are also ongoing to revamp and commission other critical pipelines across the country.

Another key intervention that has enhanced supply and distribution of diesel, the NNPC Spokesperson noted, was the Corporation’s robust engagement with critical downstream stakeholders where salient issues were raised and duly addressed. These stakeholders include: Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers.

Furthermore, as a result of consistent positive engagement with the Central Bank of Nigeria (CBN), NNPC equally extended the expansion of Premium Motor Spirit (PMS) Foreign Exchange Intervention Scheme to accommodate Diesel and Aviation Fuel.

The general public is hereby assured that the Corporation would continue to ensure seamless supply and distribution of diesel and other petroleum products across the country to make the lives of Nigerians better.




Ndu Ughamadu

Group General Manager,

Group Public Affairs Division,

NNPC, Abuja.

18th June, 2017.

5 Likes 2 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by madridguy(m): 1:14am On Jun 19
Noted.

2 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by Iamwrath: 1:37am On Jun 19
Badbelle Liepobs will not like this


Even if the news source attributes it to NNPC, this is PMB/PYO's doing , they reduced fraud in NNPC and made sure allocations are paid on time


UPNEXT


Petrol , that's when bad belles will hug live wire

63 Likes 2 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by Nobody: 1:38am On Jun 19
Iamwrath:
Badbelle Liepobs will not like this


Even if the news source attributes it to NNPC, this is PMB/PYO's doing , they reduced fraud in NNPC and made sure allocations are paid on time


UPNEXT


Petrol , that's when bad belles will hug live wire

Sai Buhari, Sai Baba!!

27 Likes 2 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by akthedream(m): 3:42am On Jun 19
Igbo Jews won't like this news..

25 Likes 2 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by NothingDoMe: 4:13am On Jun 19
The three posters above me must be high on diesel fumes.

deji15:
It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.

A remarkable achievement is when you meet and exceed your promises. Is this what you promised us APC? Have you even met the promises you made not to talk of exceeding it?

79 Likes 4 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by CHIJIOKE1314: 4:40am On Jun 19
1,2,3 & the 4th comments are evidence of zombiesm..

Stuff we bought at less than N110 is now sold at N185 and you sang praises and the zombies with empty stomach whom their grand father has never had a bicycle spoke talk less of diesel truck engines are here already to shout DIE BABA!

I won't bother to explain further..

104 Likes 3 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by tuniski: 5:39am On Jun 19
Crash ko crisis ni! Buhari and APC increased diesel price by 100% should have been the Headline. Zombies everywhere kawai.

12 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by TheCabal: 5:46am On Jun 19
CHIJIOKE1314:
1,2,3 & the 4th comments are evidence of zombiesm..

Stuff we bought at less than N110 is now sold at N185 and you sang praises and the zombies with empty stomach whom their grand father has never has a bycicle spoke talk less of diesel truck engines are here already to shout DIE BABA!

I won't bother to explain further..

Ha Ha.. I love to see IPOB members cry.

We know your allergic to positive.

50 Likes 4 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by 9JATEMPEST: 6:31am On Jun 19
deji15:

NNPC Crashes Diesel Price Nationwide by 42%


http://nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/806/NNPC-Crashes-Diesel-Price-Nationwide-by-42.aspx


Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC).

It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.

Such unpleasant situation placed a huge burden on truck drivers, who need the product for transporting their vehicles; the nation’s manufacturing sector, which requires it to run its operations as well as on the masses, who need it for household power generation.

However, following strategic intervention efforts by the NNPC towards sustained improvement in the supply of the diesel, the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.

Shedding more light on this remarkable achievement, NNPC Spokesperson, Mr. Ndu Ughamadu, said some of the Corporation’s strategic interventions in this regard include improving the supply of AGO and remodeling of the product distribution to address sufficiency issues across the country.

“Since January this year, we have worked very hard with relevant stakeholders to improve distribution from refinery depots, by implementing a robust loading programme,” Ughamadu affirmed.

Also, in its quest to enhance efficient distribution of AGO, the Corporation was able to resuscitate its critical pipelines and depots in places such as Atlas Cove-Mosimi, Port-Harcourt Refinery-Aba and Kaduna Refinery-Kano. Efforts are also ongoing to revamp and commission other critical pipelines across the country.

Another key intervention that has enhanced supply and distribution of diesel, the NNPC Spokesperson noted, was the Corporation’s robust engagement with critical downstream stakeholders where salient issues were raised and duly addressed. These stakeholders include: Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers.

Furthermore, as a result of consistent positive engagement with the Central Bank of Nigeria (CBN), NNPC equally extended the expansion of Premium Motor Spirit (PMS) Foreign Exchange Intervention Scheme to accommodate Diesel and Aviation Fuel.

The general public is hereby assured that the Corporation would continue to ensure seamless supply and distribution of diesel and other petroleum products across the country to make the lives of Nigerians better.




Ndu Ughamadu

Group General Manager,

Group Public Affairs Division,

NNPC, Abuja.

18th June, 2017.


Reno Omokri OVER TO YOU.. Na True?

5 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by wristbangle(m): 6:54am On Jun 19
I noticed the price crash as well which will be a temporary relief for sectors using diesel to power their generators.

With this news which translate to cost operation reduction, I expect price of commodities to crash a bit coupled with naira appreciation but corrupt and greedy people won't allow such to happen.

Also: price of cooking gas has crashed to N3200 for 12kg, N1700 for 6kg against N4500 and N2400 respectively before. Hmmm nice one

14 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by KingRex1: 7:11am On Jun 19
I hope service charges on commercial and office properties would also reduce
Re: NNPC Crashes Diesel Price Nationwide By 42% by Chikelue2000(m): 7:19am On Jun 19
The first 3 or 4 comments should bury their head in shame. So dis is d change we asked for right?

8 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by budusky05(m): 7:22am On Jun 19
Good one
Re: NNPC Crashes Diesel Price Nationwide By 42% by Oxenomy: 7:23am On Jun 19
wristbangle:
I noticed the price crash as well which will be a temporary relief for sectors using diesel to power their generators.

With this news which translate to cost operation reduction, I expect price of commodities to crash a bit coupled with naira appreciation but corrupt and greedy people won't allow such to happen.

Also: price of cooking gas has crashed to N3200 for 12kg, N1700 for 6kg against N4500 and N2400 respectively before. Hmmm nice one
shatap.. 12.5kg of gas is N4,500 in Abuja as at last Saturday..

14 Likes 1 Share

Re: NNPC Crashes Diesel Price Nationwide By 42% by wristbangle(m): 7:25am On Jun 19
Oxenomy:
shatap.. 12.5kg of gas is N4,500 in Abuja as at last Saturday..

This week not last week. Btw price of gas in south is generally lower compare to the northern part of the country.

7 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by Oxenomy: 7:37am On Jun 19
wristbangle:


Last week not this week. Btw price of gas in south is generally lower compare to the northern part of the country.
which this week? Did you try to buy gas this week to know that it's 3,200 per 12.5kg?

7 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by NwaAmaikpe: 7:52am On Jun 19
shocked

How does this increase the minimum wage?

2 Likes 1 Share

Re: NNPC Crashes Diesel Price Nationwide By 42% by dragonking2: 7:52am On Jun 19
Useless people.

Diesel was N115-N120 under GEJ.

So they want us to clap for them. angry

24 Likes 2 Shares

Re: NNPC Crashes Diesel Price Nationwide By 42% by eti78(m): 7:53am On Jun 19
What of petrol

1 Like

Re: NNPC Crashes Diesel Price Nationwide By 42% by lonelydora(m): 7:53am On Jun 19
How much are stations selling AGO? I'm still buying 185 in PH

3 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by Ogonimilitant(m): 7:54am On Jun 19
See the problem I have with APC led government. How much was Diseil when you took over government, somthing that was cheaper than N135 when took over government and went up to N300 Now you tell me that you are seeing progress.that APC is working

How much was a Dollar when you took over from GEJ? was it not less than 190? now doller went up high to N500 and now selling a little below N4000 and you will come here to tell me Osibanjo is working. Since Buhari travled for medical treatment the economy has improved and Naira has appriciated.

What a shame a deciet. That means some elements in APC are really trying to sabotage PMB to make it look like he is the problem. Osibanjo has been moving around campaigning in other to outsmart the Northeners. We are watching

5 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by omoadeleye(m): 7:55am On Jun 19
Hh

1 Like

Re: NNPC Crashes Diesel Price Nationwide By 42% by Nairadays: 7:55am On Jun 19
What's all this grammar NNPC is saying; ain't those part of your core functions?

Somebody is just trying to receive accolades.

I mean if you could do all these things before to ensure it doesn't crash, why didn't you do it?

After your senior ranks have been made billionaires and multi multi millionaires, you're now trying to put things right; the same thing with CBN with the naira and USD; Mtchew corruption everywhere.

Anyway it's good news on a Monday morning.

4 Likes 1 Share

Re: NNPC Crashes Diesel Price Nationwide By 42% by davodyguy: 7:56am On Jun 19
dragonking2:
Useless people.

Diesel was N115-N120 under GEJ.

So they want us to clap for them. angry


Yes because of the exchange rate under your GEJ.

He had 2.2m barrels to export per day on crude oil and each barrel was sold over $80.

Then the CBN had enough dollars to sell to banks and end users, which stabilized the naira below N200 to $1.

We import of AGO, hence is naira is weak, prices of imported products would drop.

If naira appreciates to N300 to $1, expect prices to drop further.

It's a 'dollarised' system we operate

3 Likes 1 Share

Re: NNPC Crashes Diesel Price Nationwide By 42% by Vatinie: 7:57am On Jun 19
Good news for the month

1 Like

Re: NNPC Crashes Diesel Price Nationwide By 42% by free2ryhme: 7:57am On Jun 19
These people can lie for Africa shocked

5 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by davodyguy: 7:58am On Jun 19
Oxenomy:
which this week? Did you try to buy gas this week to know that it's 3,200 per 12.5kg?

Youngman, Abuja is different from Lagos or down south.

I heard from a colleague that bought 12.5kg for less than 4000 naira

3 Likes

Re: NNPC Crashes Diesel Price Nationwide By 42% by burkingx(f): 7:58am On Jun 19
cheesy
Re: NNPC Crashes Diesel Price Nationwide By 42% by free2ryhme: 7:58am On Jun 19
NNPC didnot crash anything liars

The price of diesel is still too high

The thunder that will fire you people ehn

4 Likes

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