New petrol pump price underway



New petrol pump price underway

There are indications that the Federal Government may have opted to allow market forces to dwyerdete a new pump price of Premium Motor Spirit.

In a report published by The Leadership newspaper, marketers are raising the price of PMS at the pump to reflect the new charges to the NNPC.

The report stated that the Nigerian National Petroleum Corporation (NNPC) has introduced a new marine charge for marketers.

According to the report, deport operators and marketers will meet as soon as possible to decide about allowable adjustments.

New petrol pump price underway

A new pump price will also be implemented in Nigeria as soon as marketers complete engagement, according to a source quoted in the report..

An excerpt of the letter seen by the newspaper read as follows:
“Please be informed that the NNPC Management has directed that effective 10th February 2022, the sum of Five Hundred Thousand Naira, (N500,000.00) only will be charged for STS Coordination fee for each transshipment operation involving NNPC Marine Logistics.”

“This amount is to cover manpower and logistics required for coordination and production of cargo documents for the transshipment operations.”
“A remita payment request will be generated by our accounts section for each operation to effect necessary payment upon the vessels tendering notice of Readiness, NOR.”

The source added:
“NMDPRA and NNPC have both stated the federal government’s reluctance to review pump price but since they have passed them to marketers, the latter will reflect it either ex-depot or at the pumps.
“Marketers are business owners who mostly operate on bank loans and we too must recover all costs.”


Fuel supply: NYCN establishes task force, anticipates steady supply.
NYCN, the National Youth Council of Nigeria, has rolled out a task force to enforce measures taken by the NNPC to mitigate the adverse effects of the shortage of premium motor spirit, also known as petrol, on motorists.
On Tuesday, 15 the NNPC ordered 24-hour operations at petrol depots and other outlets to speed up the dispersal of long queues at fueling stations. To this end, the NYCN inaugurated a task force to monitor 24-hour fuel distribution and sales across the 6 geopolitical zones of the country.
NYCN commends NNPC for proactive measures to tackle fuel undersupply.

The NYCN had earlier commended the NNPC on its handling of the contaminated petrol and scarcity of the product experienced across Nigeria in recent times after the company revealed that the recent shortage was occasioned by the importation of adulterated fuel by suppliers.

Addressing a press conference on Friday, February 11 in Abuja, Adodo explained that the council had set up a task force to interface with relevant stakeholders to ascertain the situation.

Adodo who addressed journalists after an emergency session of the leadership of the council said the task force of the NYCN wasted no time in carrying out its assignment and made so much discovery.

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