The Nigerian National Petroleum Corporation (NNPC) has assigned the increment in the value of household kerosene in the country to the strength of demand and supply.
This is coming as the corporation has stated it has no intention to relocate its subsidiary, Nigerian Gas Company (NGC), outside the Niger Delta region.
NNPC’s Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, told the News Agency of Nigeria (NAN) yesterday in Abuja that the price of the product had been deregulated.
“The point remains that the prices of the kerosene are deregulated. It is not as controlled with reference to Premium Motor Spirit (PMS) 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 that 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
NAN reported that in some outskirts of the Federal Capital Territory, the price of Kerosene ranged between N400 and N500 per litre.
It will be recalled that the National Bureau of Statistics (NBS) in its National Household price watch in June said the average price per litre paid by consumers for Kerosene increased to N316.43 on June 2 from N315.91 in May.
The NBS said the price of kerosene increased by 0.17 per cent month-on-month and 13.14 per cent year-on-year in the period under review.
The report said states with the highest average price per litre of kerosene were Anambra at N381.25; Abia, Bayelsa and Akwa Ibom N356.67 and Enugu N352.78.
Meanwhile, the NNPC has said it has no plan to relocate its subsidiary, Nigerian Gas Company (NGC), outside the Niger Delta region.
Ughamadu, in a statement issued yesterday in Abuja, reassured the host communities and all stakeholders in the region that nothing of sort was in the plan of NNPC.
He described as unfortunate a statement credited to the Deputy Senate President, Senator Ovie Omo-Agege, where he reportedly condemned the purported move by NNPC to relocate NGC headquarters from the region.
Ughamadu called on the NGC host communities and other stakeholders to disregard the relocation rumour, which is described as absolutely false.
“The corporation maintains that the deputy president of the Senate might have either been misinformed or was quoted out of context.
“The subject of the relocation of NGC was never on the table for deliberation by the NNPC management,’’ he added.
The NNPC spokesman said that the focus of the current management of the corporation under the headship of Mele Kyari was to ensure a harmonious relationship with stakeholders and host communities.
This, he said, would enhance a win-win scenario for all.