The management of the Nigeria National Petroleum Corporation, NNPC begins the sale of kerosene to residents of Ogun State, Southwest Nigeria at 50 Naira per litre.
At an exercise monitored in Sagamu Local Government Area, residents praised the efforts of the Buhari administration in keeping with his campaign promises.
They however asked the management to the NNPC to make sure the initiative continues. They feel this will give them a new lease of life.
Kerosene is a major component used for domestic cooking but has recently been in short supply and this has forced many women to seek alternative measures including firewood.
However things are not looking that much brighter with another petroleum product. PMS or petrol as we call it. We have the recurring scarcity and the tiny question of our four refineries.
According to an official document, Nigeria’s public refineries only worked at a combined capacity of 1.96 per cent in September. This is contrary to the claims, in the early days of the Buhari administration, by Nigerian oil officials that the refineries were close to working at maximum capacity.
The current working situation of the refineries was published in the September report of the Nigeria National Petroleum Corporation, NNPC.
The report announces that the combined value of output by the public refineries in Nigeria amounted to N9.9 billion for crude processed in September. It said that the associated crude plus freight cost stood at N6.3 billion, representing a loss of N8.8 billion after an overhead cost of N12.4 billion.
The report also indicated that 75.78 million litres was produced compared to 200.2 million litres in August in respect of products from domestic refineries.
The running of the refineries at a loss, coupled with their dwindling performance could further push up the calls for the privatization of the refineries despite the stance of the federal government that the refineries will not be sold.