Fuel price drop: Group backs NNPCL’s reforms

A Niger Delta anti-pipeline vandalization group has backed the reforms championed by the Nigerian National Petroleum Company Limited to stabilise the country’s oil and gas downstream sector.

The National Coordinator, Anti-Pipeline, Oil Theft & Illegal Bunkering Task Force, Pathfinder Fiawei, made this known in a statement on Tuesday.

According to him, the reforms, which are the initiative of the Downstream at the Nigerian National Petroleum Company Limited, NNPCL, led by Isiyaku Abdullahi, have deeply impacted and galvanised that part of the oil and gas value chain.

He noted that NNPCL’s efforts have spurred competitiveness in the country’s downstream sector as Nigerians experience a gradual drop in the price of Premium Motor Spirit.

“We, the Anti-Pipeline Vandalization/Oil Theft & Illegal Bunkering Taskforce Group, are a critical stakeholder in the oil and gas sector, and we have painstakingly assessed and monitored NNPCL and the Executive Vice President, Downstream, Isiyaku Abdullahi, Downstream, and have seen the convincing impact and penetration of the timely reforms he has initiated, championed, and executed that have drastically changed the narrative in the history of the oil and gas sector in this country,” he said.

This comes amid controversies over the import of Premium Motor Spirit despite Dangote Refinery’s capacity to meet 100 percent of petroleum demand in Nigeria.

At the ongoing Nigeria International Energy Summit in Abuja, the Group Chief Executive Officer of NNPCL, Mele Kyari, assured Nigerians that the state-owned oil firm is committed to ensuring energy security in line with the Petroleum Industry Act.

While NNPC retail stations sell PMS at N965 per litre, Dangote petrol is sold at N945 per litre in MRS filling stations.

PMS is sold between N970 and N1000 at other filling stations across the country.