KEROSENE
SCARCITY: NIPCO PROVIDES SUCCOUR-28TH JUNE 2006
Succour may be on the way for the populace that have
been yearning for improved supply of Dual Purpose
Kerosene into the domestic market as NIPCO plc, a
leading
Indigenous downstream player in the nation’s oil
industry begins distribution of several million litres
of the household product.
The action which in the main is precipitated on the
concern of the company to always respond to the clarion
call of indigenous fuel marketers across the country to
boost the supply of the product with a view to
ameliorating the suffering of the masses.
It will be recalled that the widening supply gap of the
product in relation to demand has in recent times led to
the skyrocketing price of kerosene which a larger
percentage of the population use for cooking.
The product distribution across the nooks and crannies
of the company is based on the Pipeline and Products
Marketing Company (PPMC) 21 depots structure with the
Independent petroleum marketers over 7,000 outlets s
channels.
The release of the product whose magnitude is
unprecedented remains the highest by any fuel marketing
company in recent time.
It is also fallout of the improved product sourcing
capabilities of the management in line of the mandate of
the company’s promoters to always explore ways of
getting petroleum products available to the myriad of
independent fuel marketers across the country.
This feat which is also a direct result of the growing
confidence in the company by the PPMC as a veritable
channel through which the immediate and future product
needs of independent could be met.
The company indeed appreciate this implicit confidence
and shall remain resolute in this regard even as its
exploring the opportunities inherent in the merely
launched petroleum support fund (PSF) to boost its
product importation programme with a view to augmenting
supplies from PPMC.
The product which is being sold at a rate that leaves a
good margin for the marketers within the government
approved price of N65.00 per litre is already been seen
a major leap that can quickly close the present supply
gap and make room for reserves in the days ahead.
Nipco as the choice depot of the myriad of independent
fuel marketers had to embark on loading till late in the
night to ease the supply gap and ameliorated the present
hardship the masses are going through with pimp price in
same stations going up to N80.00 per litre.
Similar efforts by the company in May crashed the price
of the product and made it readily available in retail
outlets and this explain why the company had to go an
extra mile to commence release of these volumes to the
populace.
This feat indeed a record achievement by any downstream
player in the oil industry is unique and the company is
prepared to maintain the tempo to arrest the untold
hardship the masses are exposed to by the widening
supply gap.
The resolve of the company’s promoters to channel all
resources to give the independent fuel marketers a
veritable avenue to source products at a cheaper price
and such available to the masses especially kerosene
shall be pursued vigorously and remained a cardinal
objective.
Meanwhile none of the marketers found to have diverted
or hike the price of previous kerosene sales were
allocated the product this time around.
The gesture which is the fallout of the high monitoring
committee set up by the company management is the first
punitive action against these marketers as first
offenders.
The committee which has swung into action again in view
of the fact that kerosene is a major household need, is
contemplating more severe punishment for erring
marketers.
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