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Last Updated: Monday, November 15th, 2004 HOME | Previous Page -------------------------------------------------------------------------------- NNPC assures on slash of kerosene price By Charles Okonji Senior Business Correspondent Nigerian National Petroleum Corporation (NNPC) at the weekend gave an assurance that it would reduce the price of Dual Purpose Kerosene (DPK), saying it was a presidential order that would not be flouted. The Group General Manager, Public and Government Affairs of the corporation, Dr Levi Ajuonuma, said the price of DPK that is currently at N60 per litre, would be brought down to N50 per litre. Ajuonuma said NNPC was ready to flood the country with kerosene to avoid creating artificial scarcity in any parts of Nigeria, stressing that the corporation �must obey the presidential directive.� President Olusegun Obasanjo had at the weekend ordered NNPC to cut the price of kerosene in a bid to calm a rising tide of public anger ahead of a threatened general strike on Tuesday. The Nigeria Labour Congress (NLC) and civil society groups had vowed to bring the country to a halt from Tuesday when they would launch their latest nationwide general strike in protest at rising fuel prices. The president had refused to review the deregulatory decision which necessitated removing price caps and subsidies from the petroleum products in the country. A statement released by the President's office described it as �absolutely unacceptable� that �kerosene that is used by the masses for cooking and lighting their homes should cost more than petrol.� The statement said Obasanjo had ordered that NNPC should import more kerosene and sell it at a cheaper price, but did not say when and by how much the price would fall. On September 23, the pump prices of petrol, diesel and kerosene jumped to more than N55 per litre. Unions and civil rights groups had said that their strike would continue until Obasanjo reversed the prices of the petroleum products, warning that they could disrupt Nigeria's exports of around 2.5 million barrels of oil per day. -------------------------------------------------------------------------------- Copyright? 2004. All Rights Reserved. Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.independentng.com e-mail: [email protected] Designed By Powered By DNet.

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