Marketers Sell kerosene at N120

Marketers are selling Household Kerosene (HHK) above the approved price of N84.17 per litre, investigation has revealed.
They sell the product for between N115 and N120 per litre.
According to the Petroleum Products Pricing Regulatory Agency’s (PPPRA’s) pricing template of March 17, the expected open market price (OMP) of kerosene is N84.17 per litre.
However, marketers, mainly independents, sell the product above N84.17 per litre. In many retail outlets in Lagos, The Nation discovered that consumers buy the product at N120 per litre.
At some retail outlets in Ikotun, Egbeda, Idimu, Iyana-Ipaja, and Agege in Lagos, consumers stood in long queues to buy the product, described as “poor man specific”. Those who went to the Nigerian National Petroleum Corporation (NNPC) outlets to buy at cheaper price, were disappointed – the product was not available.
Contacted, Independent Petroleum Marketers Association of Nigeria (IPMAN) National President Mr. Chinedu Okoronkwo said he was not aware that his members were selling kerosene above the official price.
He said the association would deal with any ofits members who sells the product above the official price.

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