The Nigerian National petroleum Corporation (NNPC) said that diesel price nationwide crashed by 42 per cent due to strategic intervention by the Corporation to sustain supply of the product.
The Corporation in its May report released in Abuja, on Thursday said the move helped to stop unpleasant experience witnessed in the first quarter of 2017.
It said that the retail price of the product in the first quarter rose to N300 per litre.
The monthly report, the 22nd edition, like the previous ones, is designed to promote and sustain effective communication with stakeholders.
“The intervention pushed the product’s retail prices as at May 2017 to rally between N175 and N200 across the country,’’ it said.
On Gas supply, it said that the average national daily gas supply to the nation’s power plants rose by 64 per cent.
“The average Natural Gas supply to power plants of 729 million standard cubic feet of gas per day (mmscfd) in May was 63.74 per cent higher than the daily gas supply to the plants, of 446mmscfd, during the same month in 2016,’’ it said . (NAN)
