Company seeks Reps’ support to access petroleum products

NIPCO Plc has asked the House of Representatives Adhoc Committee on Review of Pump Price of Petrol for support to enable it to access petroleum products from the depots at the right price.

The Group Executive Director of NIPCO, Alhaji Abdulkadri Aminu, made the request in Lagos on Friday, after a facility tour of the Northwest zone, the Department of Petroleum Resources (DPR), and NIPCO Plc by the committee.

Aminu stated that the company has more than 8, 000 retail outlets in five geo-political zones of the country that will enable it to service Nigerians effectively.

“I want to appeal to your committee to give us the required support that is required so that we can access products so that Nigerians can really get value for what they are paying."

“Most of the people that have these oil terminals do not have the retail outlets. Here we are."

“We have thousands of retail outlets because about three quarters of independent marketers are shareholders here."

“So we have more than 7, 000 retail outlets that are not branded. We have today about 1,000 retail outlets that are branded."

“So you can see that we can really change the equation of this industry with your support. We can do what we can do."

“You as government and as representatives of the people, know what the people stand for."

“I believe that this should be rightly considered and you can intervene in ensuring that NIPCO gets what it deserves."

“We are not looking for more than what we can take, but we are looking for at least 60, 70 per cent of our capacity and hardly we get 30 per cent.’’

In his remarks, the Zonal Controller, Lagos office of DPR, Mr Wole Akinyosoye, spoke of the need to get the products from the depots at the right pump price.

“What is important for us is to go upstream to the depot to ensure that the depots get the products at the right price."

“The depots are saying if you land this thing right at the jetty at N133, if it gets to the depot at that price, that is the only time they will be able to sell at the right price.

“When they have to pay for , they have to pay for the , they have to pay for jetty in dollars and the dollar is a moving goal post; adds to their cost."

“Many of those people actually, you see them doing N145 but they are under dispensing by .3, 4 in order to be able to get to the limit."

“Some are technically allowable; some of them is for them to be able to build upon their cost."

“We need to look at this particular flow to ensure that we block all the loopholes in order to get the right prices here.’’

Mr Adebayo Adegun, Head of Corporate Communications and Brand, Northwest Petroleum and Gas Co. Ltd., said the company had hope for beneficial pricing for all Nigerians.

“We have given all out concerns and they would go back and look into it."

“Then we look forward to their responses and we hope that whatever the committee achieved would be beneficial to the whole country as whole."

“We all want the prices to be beneficial to all Nigerians and the committee is working on it and whatever it does; from the retailers, to the importers, to the exporters, everyday user, it becomes beneficial."

“The committee is working on all retailers in the business; so the committee is working with everybody."

“They will put all these together and they will come up with reports that they will share with all Nigerians,’’ Adegun said.