Femi
Otedola, chairman of Forte Oil, and has ordered that all his fuel stations
across the country should henceforth sell House Hold Kerosene (HHK)
at N50/litre in furtherance of his decision to identify with President
Muhammadu Buhari's bid to ameliorate the hardships faced by millions of
Nigerians daily. He calls it ‘Buhari Kerosene’
The
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.
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.
The Forte Oil boss said 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.
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