Nipco sells kerosene at N50 per litre

Residents with jerry cans of various sizes formed long queues at the kerosene pump to partake of the largesse.

A resident, Mrs. Taiwo Balogun, said: “Kerosene is N50 per litre, can you believe that?

“It is a good development that the government has allowed kerosene to become this cheap. Do you know what this means for businesses and homes? The price of everything else would automatically come down. Last Saturday, I bought this same keg (a five litre) for N650 and today, it is N250. I am happy and I pray this would continue.”

Another customer, Oluchi Ede, who sells roasted plantain said: “We asked for change and we are happy that we are seeing the change. No one would have dreamt that kerosene would be sold so cheaply.”

Damilatu Lawal said: “It is very good that they are selling kerosene so cheap. It should continue and be extended to other filling stations. It gives us peace of mind. Our profit margin will increase and we can now sell cheaply and win more customers. It is indeed very good.

[pull_quote_center]“We just pray that this development continues because we all know Nigeria for starting something good and not continuing it. That is why everyone is rushing it now, because we are afraid that they can suddenly revert to the previous price.”[/pull_quote_center]

The Dealer of the filling station, Mr. Kayode Adepoju expressed optimism with the continuity of the new kerosene policy.

He said what stopped major dealers from engaging in kerosene sales prior to now, was the high landing invoice, high cost of profoma landed invoice (PFO) and bank charges, which led to high purchase and sales cost.

“Although this is the first time we are selling kerosene at Nipco gas station, we are optimistic that we would continue the development. We could not sell before now due to the high landing invoice and high cost of profoma landed invoice (PFO) and bank charges, but we can sell now because government now sells to us on credit.

“This has accorded many other dealers the opportunity to also engage in kerosene sales,” Adepoju said.

The Nipco dealer said kerosene dealers do not receive subsidy from government to carry out the directive.

“It is an initiative by the federal government to ensure that the masses get valued products at regulated and affordable prices. We do not receive subsidy from government, apart from our usual remit. The major marketers have implemented this new directive,” he said.