Nigerians to now buy kerosene for N150/litre - NNPC

Nigerians will now purchase kerosene from petrol stations at a newly-fixed rate according to the Nigerian National Petroleum Corporation (NNPC).

This information was made available by Alhaji Tokunbo Korodo, the south Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) who spoke with the News Agency of Nigeria (NAN) in Lagos on Saturday.

This is coming after the removal of fuel subsidy which ushered in the official N145/litre pump price for petrol and the NUPENG leader says it will encourage more importation of the product.

He said: “The NNPC has fixed N150 per litre as the new depot price of kerosene and has directed all its depots and private depot to comply with the directive.

“This did not include the transportation of the product or several levies and bank interests paid by marketers.

“Consequently, marketers will now add all these expenses to the depot price to arrive at N190, N200 or N220 depending on their locations.

“The advantage of this is that it will open door for more marketers to commence importation of kerosene just like petrol."

Recently, the emir of Kano, Muhammad Sanusi ii revealed that the payment of fuel subsidy was an opportunity to enrich some people at the expense of the country

Sanusi who served as governor of the Central Bank of Nigeria during the administration of Goodluck Jonathan revealed that the whole fuel subsidy payment was a scam as it was presented to favour the poor when actually it was enriching some people.

The Punch reports that the emir said this while delivering a lecture on the Deregulation of the Downstream Oil Sector and Nigeria’s Economic Development at the National Defence College in Abuja on Wednesday, August 3.

Sanusi said the country was losing 20 million US dollars for every 30,000 metric tons of kerosene imported into the country.