NNPC in compliance with pump price template

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NNPC in compliance with pump price template
April 9, 2020

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The NNPC Retail Ltd., one of the downstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), has clarified that all its filling stations across Nigeria were selling premium motor spirit (petrol) within the official price band announced by the Petroleum Products Pricing Regulatory Agency (PPPRA) for the month of April.

The Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, in a press release, quoted the Managing Director of NNPC Retail Ltd., Sir Billy Okoye, as saying that all of the company’s over 600 hundred retail outlets adjusted to the new price immediately the pricing regulatory agency came up with the new price band of between ₦123.50 and ₦125.

The NNPC Retail boss explained that the company was the first in the country to comply with the PPPRA price advisory issued on 19th March, 2020, by adjusting its pumps to ₦125 per litre from the old price of ₦145 per litre.

He said “Last week, the PPPRA announced the new pump price range of ₦123.50 to ₦125 for the month of April 2020. What this means is that all stations in Nigeria cannot sell below ₦123.50 and cannot sell above ₦125 per litre for the month of April 2020. NNPC Retail Ltd. is fully complying with the PPPRA directive as we are neither selling below ₦123.50 nor selling above ₦125 per litre in all NNPC Retail’s stations nationwide.”

He said NNPC Retail Ltd prides itself as the company with the best in terms of price, products quality and quantity (meter integrity), stressing that the company and its stations, being part of the NNPC, were owned by Nigerians and so would always strive to protect the interest of Nigerians.

He disclosed that the company was planning to extend its services to neighbouring West African countries, noting that having introduced its high-quality lubricants into the market recently, its goal is to consolidate on that as a state-owned company for the economic benefit of Nigerians.

Okoye called on members of the public to always use any of the company’s feedback mechanisms well displayed at all its retail outlets to report any sharp practice, adding that the management would not fail to sanction erring dealers.