NNPCL Slashes Price For Marketers To Ease Scarcity

The Nigerian National Petroleum Company Limited (NNPCL) yesterday, adopted new measures aimed at guaranteeing adequate fuel supply across the country, by fixing N148 per litre as the price for lifting petrol at depots.

It also agreed to supply outstanding stock to independent oil marketers, to end product shortage.

This came as the independent marketers said they had been lifting the product from private depots at about ₦200 per litre, which made it impossible for them to meet the Department of State Services (DSS) 48-hour directive last week.

They said that the situation also led to their inability to sell petrol at ₦170 per litre like their major marketers’ counterparts and NNPCL.

It was further gathered that a meeting was held between NNPCL, marketers and all the stakeholders, where the issues were resolved.

Operations Controller, Independent Petroleum Marketers Association of Nigeria (IPMAN) Mr. Mike Osatuyi, who confirmed the development, said: “Our members have now been allowed to lift petrol at ₦148 per litre, meaning that we can now reduce our pump prices. We are committed to working with other parties to tackle the shortage across the country as quickly as possible.”