Following the chairman of Forte Oil, Femi Otedola,
decision to sell House Hold Kerosene (HHK) at N50/
litre, being over 50 per cent reduction of its current pump
price, the billionaire oil magnate has effortlessly made a
grand entrance into the pantheon of Nigeria's 21st century
crusaders.
He calls it 'Buhari Kerosene' and has ordered that all his
fuel stations across the country should henceforth sell HHK
at N50/litre in furtherance of his decision to identify with
President Buhari's bid to ameliorate the hardships faced by
millions of Nigerians daily.
The Forte Oil boss had recently blown the lid off the
activities of shady characters in the oil sector whom he
blamed for selling House Hold Kerosene (HHK) as Jet
A1 fuel, also called Aviation Turbine Kerosene (ATK), to
airline operators. In a statement signed by him, Otedola
revealed: "This illicit act has been identified as the major
factor contributing to the rising cost of kerosene in the
country and may also be the cause of some of the air
mishaps we have encountered in the country in recent
times."
The Forte Oil boss stated that while HHK is sold by the
Pipelines and Products Marketing Company (PPMC), an
arm of the Nigerian National Petroleum Corporation
(NNPC) at the regulated price of N40.90k with the
objective of selling to the average Nigerian at the pump
price of N50 per litre, major HHK dealers sell the
product to poor Nigerians at the pump price of N125 per
litre. And the development is attributable to the emergence
of mushroom marketers who are desperate to make a killing
by selling kerosene as Jet A1 fuel to major local and
international airlines at the pump price of N140/litre or
even higher.
He explained that this is possible because HHK shares
some physical and chemical properties with Jet A1 fuel.
With his decision to sell HHK at N50/litre at all his fuel
stations nationwide, Otedola will no doubt reduce the
hardships foisted upon millions of Nigerian families by the
prohibitive pricing of the cooking fuel. Perhaps rivals of the
billionaire oil magnate will follow suit and emulate his
conscious attempt to make life more bearable for the
average man on the street.
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