Investigations have revealed that marketers are selling Household Kerosene, HHK above the approved pump price of N84.17 per litre.
They sell the product for between N115 and N120 per litre.
According to the Petroleum Products Pricing Regulatory Agency’s (PPPRA) 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 well above the approved price of N84.17 per litre. In many retail outlets in Lagos, The Nation discovered that consumers buy kerosene 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 as the product was not available.
Contacted, Independent Petroleum Marketers Association of Nigeria (IPMAN) National President, 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 of his members who sells the product above the official price of N83 per litre, adding that the association is yet to arrest anybody in that regard.
