In spite of the recent rising changes of the Premium Motor Spirit (PMS) petrol with diverse prices, the Nigerian National Petroleum Company Limited (NNPCL) has left its unchanged at N880 per litre in the Federal Capital Territory (FCT). While other major marketers have increased it from N930-N980. In Lagos, the corporation has maintained pump price at N860 Chief Corporate Communications Officer of the Corporation, Mr. Olufemi Soneye attributed the stability of price in the state-owned oil firm’s outlets to its determination to keep to its core mandate. The Petroleum Industry Act (PIA) mandates the NNPCL to ensure energy security for the country.
Soneye stated that the PIA mandates NNPCL to be the supplier of last resort.
“Energy security. The law mandates NNPC to be the supplier of last resort.” He said
The Chief Corporate Commutations Officer affirmed that NNPCL is not running at a loss,
NNPCL’s refineries Port Harcourt and Warri have been operational, also supplying products to the domestic market.
It refines its own feedstock from its upstream firm- National Petroleum Development Company (NPDC) and JVCs.
Its sustenance of the pump price despite the changes in most components of the petrol pricing template such as crude oil price increase and exchange rate shows a maintenance of a slim profit margin for energy security.
It was also gathered that at the petrol stations in Abuja showed that some major oil marketers sold the product from between N950 per litre to N970 per litre.
Some independent marketers vended the petrol for N990 per litre with little or no patronage.
But the NNPCL outlets recorded major patronage.
Dangote affiliate petrol station, MRS vended the product for N950 per litre after adjusting the price from N880 per litre.
