The
Nigeria National Petroleum Company (NNPC) yesterday in Abuja revealed
that kerosene was not sold at official price of N50 per litre because of
diversion of the product by marketers.
NNPC’s
Group Managing Director, Mr Andrew Yakubu told an investigative hearing
on the supply, subsidy and distribution of kerosene that other reasons
for the high prices include surcharges by middlemen, and that its usage
for road construction and aviation fuel was also a factor in its
scarcity.
He
also stated at the hearing, which was organised by the House of
Representatives on Petroleum, that monitoring of the country’s boarders
will ensure that the product was not smuggled out.
He
said that NNPC was working to ensure that all pipelines were functional
to prevent the continued diversion of kerosene, and said that though
there was a directive to stop a subsidy on the product it, this had not
been fully implemented.
A
presidential directive was issued on June 2009 to stop subsidy on
kerosene, and daily supplies increased from nine million liters to 11
million liters in 2011.
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