ADVERTISEMENT

Reps direct corporation to disclose cost of imported petrol

NNPC and its subsidiaries sourced 90 per cent of petrol while private marketers sourced only 10 per cent of the product into the country.

___6105463___https:______static.pulse.com.gh___webservice___escenic___binary___6105463___2017___1___24___8___-dangote-refinery-venturesafrica

The Chairman of the Committee, Rep. Raphael Igbokwe, gave the directive in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos.

Igbokwe spoke on the side lines of the committee’s visit to Lagos depots of some private operators involved in transportation and distribution of petrol from the ports to the consumers.

NAN reports that the depots visited by the committee are Folawiyo Energy Limited, WOSBAB Energy Solutions, First Royal and Stallionaire Oil & Gas Limited.

ADVERTISEMENT

According to him, NNPC and its subsidiaries sourced 90 per cent of petrol while private marketers sourced only 10 per cent of the product into the country.

“The reason for our curiosity and unannounced visit to some depots is that our investigation shows that importation of petrol is no longer profitable to the private marketers and dealers.

“The issue is how come that only the government agencies are engaging in the importation and supply of petrol.

“This will make us to compel them to open their (NNPC and subsidiaries) books for Nigerians to know the true cost of importation of petrol,’’ Igbokwe said.

The chairman said that the committee would find out from neighbouring countries and refineries the cost of petrol per litre.

ADVERTISEMENT

He said that the committee got authentic information from a reliable source that the price of petrol was around N230 to N250 per litre in neighbouring countries.

Igbokwe noted that the official landing cost of petrol was about N130 to N135.

He said that the committee, however, received information that the landing cost of petrol was higher than the N145 official rate fixed by government.

Igbokwe commended the management of Folawiyo Energy and WOSBAB Energy for being diligent in their operations.

He directed the management of First Royal to appear before the committee on May 26 to present its record of operation and explain why it failed to honour two previous invitations by the committee.

ADVERTISEMENT

According to Igbokwe, officials of the Directorate of Petroleum Resources (DPR), had on Thursday sealed Stallionaire Oil & Gas depot at Satellite Town, Lagos due to inadequate storage facilities.

He said that the committee would not shield any depot firm frustrating government’s efforts at making fuel available and affordable to Nigerians.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Court grants senator accused of forging NYSC certificate ₦50m bail

Court grants senator accused of forging NYSC certificate ₦50m bail

Delta monarch declared wanted by military surrenders to police

Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT