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Home Sectors Energy

Why NNPC stations are popping up in locations near you

Omono Okonkwo by Omono Okonkwo
October 21, 2022
in Energy, Spotlight
NNPC

NNPC

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If you have been paying close attention over the past three weeks, you would have noticed that Nigerian National Petroleum Company (NNPC) Limited fuel stations are popping up around your locality.

The number of NNPC stations in Nigeria will increase over the next few months. That’s because on October 1st, 2022, the NNPC announced that it had acquired all the retail service stations under Oando Plc.

The Oando retail brand, OVH Energy Marketing, is the owner and operator of all the Oando-branded fuel stations in Nigeria. Now that NNPC has bought them all, the Oando fuel stations in your locality will rebrand as NNPC fuel stations.

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Metrics

  • Before buying Oando fuel stations, NNPC was operating over 500 fuel stations of its own. Oando, on the other hand, had 380. So, in the next few months, NNPC-branded fuel stations in Nigeria will become more than 800.
  • Other assets that NNPC acquired from Oando include eight liquefied petroleum gas plants, three lube blending plants, three aviation depots, 12 warehouses, and one reception jetty with a 240,000 metric tons monthly capacity.

How does this affect you as a Nigerian?

  • Across the country, customers have complained about buying petrol at different rates from different locations and fuel stations.
  • As NNPC fuel stations will soon increase, it gives more Nigerians the opportunity to buy premium motor spirit (PMS) also known as petrol at the official rate of N189.46 per litre. NNPC fuel stations are known for always selling petrol at official rates.

What you should know

  • In the past, petrol marketers have said that the reason why different fuel stations sell petrol at different prices is because of escalating energy costs in bringing refined fuel into Nigeria, due to the Russia-Ukraine war, which started in February 2022.
  • Another reason why petrol prices are different in different regions of the country is based on logistics challenges within those regions. For instance, current flooding in Bayelsa state has cut off access to neighbouring states – Delta and Rivers. So, state residents have to buy black market petrol for up to N1000 per litre.

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Tags: Nigerian National Petroleum Company LimitedNNPC
Omono Okonkwo

Omono Okonkwo

Omono Okonkwo is an accomplished Mass Communicator, with a remarkable track record spanning over a decade across various dimensions of the field. Her proficiency encompasses Print, Digital, and Broadcast Journalism, Copywriting, Research and Writing, Podcasting, Public Speaking, as well as a comprehensive grasp of Energy Markets. Her engagement in energy market coverage commenced officially in 2016, as she assumed the role of a country correspondent (Nigeria) with Natural Gas World, a subsidiary of Minoils Media based in Vancouver, Canada. Since then, Omono Okonkwo has consistently demonstrated excellence and left an indelible mark on the ever-evolving energy sector.

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Comments 2

  1. Ntak Otongaran says:
    October 21, 2022 at 6:39 pm

    Fuel is not sold for 189. Most NNPC outlets sell for 169, with exception, of a few the outlet on Alagbole-Akute road that sells for 179. Please correct the error.

    Reply
  2. Mike says:
    October 28, 2022 at 11:30 pm

    May this government and it’s official never and ever no peace and their generation will suffer miserably except there’s no God. All their enjoyment will be cease and grace of God Will depart from them

    Reply

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