The Nigerian National Petroleum Corporation (NNPC) has introduced a new pricing regime which will offer kerosene to local consumers at N50 per litre. This was issued in a statement by Ohi Alegbe, the Group General Manager, Public Affairs Division, of the corporation.

The statement said that the Executive Director, Commercial, of the Pipeline and Products Marketing Company (PPMC), Mr Frank Amego, announced the initiative at a one-day workshop in Abuja.

Nigeria had on Sunday announced a reduction in the fuel price of petrol by N10 from N97 to N87 per litre. This was done as a result of the recent fall in fuel prices globally, forcing the landing cost of petrol downwards. The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, made the news public while briefing State House correspondents at the Presidential Villa, Abuja.

It is in the same vein that the ‘Kero Correct Initiative’ is being set up to ensure that the entire country benefits from the reduction of both fuel and kerosene prices. “The Kero Correct initiative is thus designed to distribute and sell kerosene directly to end users from NNPC Retail mega and affiliate stations across the country at the government-regulated price of N50 per litre to ensure effective control,” said Amego.

He added that the scheme, expected to go live in the coming weeks, will include the distribution of a total of 1,500 trucks of kerosene across NNPC Retail’s mega and partner stations across the country. A strategy to ensure that each consumer gets a minimum of 25 litres over the next three months.