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, quoted the Managing Director of NNPC Retail Ltd, Billy Okoye, as saying that all of the company’s over 600 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.
“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,” Okoye affirmed.
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.