...NNPC to reward marketers who make life easy for Nigerians
In spite of the challenges that independent petroleum marketers in Nigeria have been subjected to in the provision of petroleum products for daily consumption in Nigeria, they have been adjudged most compliant in upholding the Federal Government’s regulated price cap on Premium Motor Spirit (PMS), also known as petrol.
Nigeria will refocus on oil projects that deliver higher returns to keep production within the limits set by OPEC, oil minister Emmanuel Kachikwu said late Tuesday.
The country has been struggling to make good on its pledge not to produce above 1.8 million b/d under the OPEC/non-OPEC output agreement, with output hitting its highest level in more than two years in January at 1.93 million b/d, according to the S&P Global Platts survey.
Nigerians have recently been assailed with various figures estimating the country’s daily total national demand and consumption of Premium Motor Spirit (PMS), also known as petrol.
For a country so dependent on petrol imports, it is scandalous that the relevant authorities have no clue as to how much of the highly sought after product is consumed in Nigeria every single day. It is sad that in 2018, Nigeria has been unable to consistently and pragmatically collate, process and warehouse data and statistics to enable proper national planning.