ABUJA-INSPITE of the industrial action embarked upon by the two major labour unions in the Nigerian oil and gas sector which is aimed at shutting down the entire oil industry nationwide both upstream and downstream the Management of the Nigerian National Petroleum Corporation (NNPC) has insisted that the strike action embarked upon by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) will not dislocate the robust distribution and sale of fuel to members of the public.
The Corporation, in a statement on Monday, noted that it was in talks with the leadership of the unions who gave the assurance that they would not disrupt the fuel supply and distribution system as the strike was basically aimed at addressing the anti-labour issues by some of the International Oil Companies (IOCs).
This is coming on the heels of price adjustments by the Petroleum Products Pricing Regulatory Agency (PPPRA) via a document obtained from its website earlier today. The Agency puts the market price of PMS at N101.48 per litre, as at December 12, 2014, compared to N108.38 per litre as at December 9, 2014.According to the PPPRA, the Expected Open Market (EOMP) of fuel is N101.48; Landing Cost N98.15; Ex-Depot price is N81.51 per litre, while the regulated price is N97 per litre, this is being speculated to have been adjusted in consideration of the deep slump in international oil prices.
Meanwhile, the NNPC and its downstream subsidiary, the Pipelines and Products Marketing Company (PPMC) also revealed that it has over 32 days stock of petroleum products available for supply across the nation during the Yuletide season and beyond. The Corporation also disclosed 17 additional petroleum laden vessels are at the Lagos Port waiting to discharge to the various depots for onward distribution to members of the public.
It further assured that everything was being done to ensure that there was no hitch whatsoever in the supply system that could bring any form of hardship to motorists and those who intend to travel during the period.
The oil company called on members of the public to avoid panic buying or stock piling of petroleum products as that could lead to needless queues or cause fire accidents that could lead to loss of lives and property.
The Corporation also advised marketers to desist from hoarding or diversion of petroleum products as any marketer caught in the act would be sanctioned.
Even if the NNPC has not disclosed its strategies on effective product distribution during the strike period especially as the call by the union is for the strike to be fully observed by all its members the National Oil Company has continued to assure Nigerians that the effect of the strike would be minimally felt as it has its distribution network in place and not expecting any disruptions in that regard.