DAILY TRUST
Marketers have welcomed the roll out of premium motor spirit (PMS) from the Port Harcourt Refinery, saying it would deepen competition, ensure product availability and price reduction.
Exactly 11 months after the mechanical completion of the old Port Harcourt refinery, trucks began loading of petroleum products, signalling the commencement of crude oil processing from the plant and delivery of petroleum products into the market.
Daily Trust gathered that about 100 trucks lined up to load petrol from the refinery on Thursday.
The Nigerian National Petroleum Company Limited (NNPCL) on Thursday disclosed that it has commenced loading petroleum products which include Premium Motor Spirit (PMS) also known as petrol, Automotive Gas Oil (AGO) or diesel and Household Kerosene (HHK) or Kerosene, while other product slates will be dispatched as well.
Speaking during a brief ceremony to mark the commencement of products loading at the refinery in Port Harcourt, the NNPCL Group CEO, Mr. Mele Kyari, described the commencement of the load out activities as a monumental achievement for Nigeria which signifies a new era of energy independence and economic growth for the country.
Excess supply will crash price –MEMAN
The Executive Secretary of the Major Energy Marketers’ Association of Nigeria (MEMAN), Clem Isong, in a chat with one of our correspondents said the association had always advocated for price competition.
He said: “We are advocating for diversification of supply, multiple supply sources and we are advocating for open market competition and price competition.
“Our advocacy is product availability, product accessibility, product affordability and price competition. That is the crux of our advocacy.”
On its part, the Independent Petroleum Marketers Association of Nigeria (IPMAN) said it was excited about the roll out of PMS from the Port Harcourt refinery by the NNPCL.
Members of the association said they were optimistic that the development would engender competition and ultimately lead to price reduction.
The National Public Relations Officer of IPMAN, Alhaji Olanrewaju Okanlawon, said while the price of PMS had not changed, the development would eventually bring about price reduction.
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