NNPC explains hike in price of kerosene

The Nigerian National Petroleum Corporation has attributed the increase in the price of household kerosene in the country to the pressure of demand and supply.

The NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, told the News Agency of Nigeria on Sunday in Abuja that the price of the product had been deregulated.

“The point remains that the price of the kerosene is deregulated. It is not as controlled with reference to Premium Motor Spirit, known as Petrol, that is why we see the prices moving up and down.

“The important thing is that the trend you are seeing there had to do with supply and demand. The more the demand, the higher the price locally,’’ he said.

Ughamadu said the NNPC remained the sole importer of the product and had been augmenting it with the skeletal production from the refineries.

He reiterated the commitment of the corporation to the adequate supply of petroleum products for Nigerians.

“The corporation is doing everything to ensure that we import more volumes of kerosene because we believe that this is the energy source that the low income earners in the country use,’’ he added

A check by NAN in the Federal Capital territory indicated that the price of kerosene ranged from N400 to N500 per litre.

Most of the consumers buy the products from the road side.
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