Some stations in Abuja, Nigeria’s federal capital, are selling petrol at prices decrease than NNPC’s.
Amidst the Wednesday’s upward review in petrol pump sign, some filling stations in the nation’s capital, Abuja, are for the time being selling petrol more inexpensive than those of the Nigerian National Petroleum Company Restricted (NNPC Ltd), signaling a shift in the country’s gas market dynamics.
Earlier on Wednesday, PREMIUM TIMES reported that petrol pump prices rose to N998 and N1,030 per litre at quite a lot of retail outlets of the NNPC Ltd in Lagos and Abuja, respectively.
That trend followed NNPC’s decision to terminate its irregular purchase agreement with Dangote Refinery.
PREMIUM TIMES correspondents who visited petrol stations in Abuja on Thursday morning observed that some marketers offered petrol at prices decrease than NNPC’s.
As of 8.38 a.m. NIPCO fueling dwelling at Ahmadu Bello Formulation by Banex junction offered the product for N1,025 per litre. Mobil filling stations located at Ahmadu Bello Formulation, Mabushi, and Obafemi Awolowo Formulation, Utako, additionally offered at N1,025 per litre.
NIPCO and Mobil gas stations, each and every located along Airport facet road, additionally offered the product at N1,025 per litre.
Costs differ
On the other hand, Total Energies, located at Sultan Abubakar Formulation, Zone 3, offered the product for N1,080. Eterna filling dwelling at Obafemi Awolowo Formulation, Utako, offered at N1,120. Shafa filling dwelling, located along Airport facet road Lugbe, offered at N1,050.
At DanMarna fueling dwelling, additionally in Lugbe, Abuja, this newspaper observed that petrol used to be offered for N1,100 on Wednesday morning.
Background
The NNPC had claimed in September that it used to be procuring petrol from Dangote Refinery at N898.78 per litre and selling to marketers at N765.99 per litre, shouldering a subsidy of nearly N133 per litre. On the other hand, the firm acknowledged this draw just isn’t any longer sustainable.
The NNPC lifted about 103 million litres of petrol from Dangote Refinery between September 15 and 30. The refinery used to be in a dwelling to load 2,207 of the 3,621 trucks despatched to it for the length of the length below review.
The autos carried correct 102,973,025 litres of the deliberate 400,000,000 litres of petrol earmarked to be lifted from the refinery at 25 million litres per day. That translated to correct 26 per cent performance, files viewed by PREMIUM TIMES point out.
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With the NNPC ending its irregular purchase agreement with the Dangote Refinery, the firm will now now no longer be the only off-taker, and marketers can now negotiate prices without prolong with the refinery.
On the other hand, on Wednesday, the National Public Family Officer of the Objective Petroleum Entrepreneurs Association of Nigeria (IPMAN), Chinedu Ukadike, told PREMIUM TIMES that the affiliation’s contributors had but to begin loading petrol from Dangote Refinery.
“We occupy got now no longer started off-taking from Dangote. But now that the NNPC has acknowledged they are no longer any longer the only off-taker, we are in a position to continue our discussion with Dangote.
“Our discussion with Dangote will also reaching the concluding stage by the end of this week; independent marketers will come out with the price Dangote is giving to us. We are still loading from NNPC. We are waiting for Dangote to come out with their price and that will also allow us, the independent marketers, to effect our price,” Mr Ukadike acknowledged.
