September 18, 2015

President Buhari Declared That Kerosene Should Be Sold at The Rate Of N50 Per Litre

The chairman of Forte Oil, Femi Otedola, has directed that his stations should start selling  Dual Purpose Kerosene (DPK)  simply known as  kerosene for N50 per litre.

Otedola said the fuel, dubbed “Buhari kerosene” will soon start selling in stations across the country. Long queues were reportedly seen in some stations.

The move is seen as a bid by Otedola to key into President Muhammadu Buhari’s plan to alleviate poverty in Nigeria. The federal government through the department of petroleum resources had earlier directed that petroleum marketers sell kerosene at N50 in order to make it more affordable for Nigerian. Otedola reportedly directed that outlets follow the official price proposed by the president.
It was reported that Otedola had made revelations about the shady activities of some oil dealers who sold kerosene as airline fuel to airline operators.
In a statement reportedly signed by the Forte Oil boss, he said: “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.”
Kerosene bears some semblance to airline fuel which is what made it possible for some people to engage in the illicit trade.
Entertainment Express reports that Otedola said the emergence of ‘mushroom marketers’ gave way to the sale of kerosene as airline fuel. He accused these people of trying to make quick cash.
Otedola made the statement that kerosene was being substituted for airline fuel, resulting in the recent spate of plane crashes and airline problems in the country. He added that if the people engaging in the illicit business are apprehended, it will reduce the number of problems with airlines.
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