Petrol: NNPC Slashes Price For Marketers To Ease Scarcity



By setting N148 per litre as the price for lifting gasoline at depots, the Nigerian National Petroleum Company Limited, or NNPCL, yesterday enacted new measures aimed at ensuring an adequate fuel supply throughout the nation.

In order to alleviate the product shortfall, it also agreed to provide outstanding stock to independent oil marketers.

The independent marketers claimed that because they had been purchasing the product at a cost of around N200 per litre from private depots, they had been unable to satisfy the Department of State Services’ (DSS) 48-hour deadline last week.

They claimed that the predicament prevented them from offering gasoline at the same price of N170 per litre as their big competitors and NNPCL.

Vanguard learned yesterday that NNPCL, marketers, and all the stakeholders met to discuss and resolve the concerns.

“Our members have now been permitted to hoist gasoline at N148 per litre, indicating that we may now lower our pump pricing,” said Mr. Mike Osatuyi, Operations Controller of the Independent Petroleum Marketers Association of Nigeria, or IPMAN. We are dedicated to cooperating with other parties to address the nationwide shortage as soon as feasible.

To alleviate the pain of Nigerians, the House of Representatives yesterday urged NNPCL to put an end to the ongoing petroleum product shortage in the next week.

The Nigerian Midstream Downstream Petroleum Regulatory Authority, or NMDPRA, was also urged by the House to enlist the assistance of the DSS and Nigerian Police Force to guarantee that petrol was sold at the set price and in all retail outlets.

The resolutions came after Saidu Abdullahi (Niger State) made a motion under urgent public concerns in plenary titled “Urgent Need for the Government to End the Current Fuel Scarcity.”

When introducing the motion, Abdullahi highlighted that the recent petrol shortage has caused unimaginable sufferings for Nigerians, impeding economic activity and making the already challenging circumstances in the nation even more challenging.

“Intelligence reports on the current fuel shortage gathered by our securities agencies indicated that there is a deliberate effort by some oil marketers to thwart the government’s effort to distribute fuel in the country by hoarding the petroleum products and thereby creating artificial scarcity throughout the nation,” he said.

“While the current fuel shortage hurts, some major marketers are selling fuel at government-regulated prices, but some independent marketers, who operate in the market and have access to enough petroleum supplies, are selling at unregulated prices.

“The majority of those gas stations ended up selling fuel for more than N300 per litre. Dismayingly, it appears that those who stand to benefit from this contrived fuel shortage are grinning at home.

However, IPMAN’s public relations officer, Mr. Chinedu Ukadika, who talked with Vanguard yesterday, urged the NNPCL to provide independent marketers access to 60 percent of the country’s imported gasoline at the official rate in order to end the nation’s ongoing gasoline shortage.

Speaking to Vanguard yesterday, IPMAN Public Relations Officer, Mr. Chinedu Ukadika, stated that independent marketers’ extensive networks make them the ideal channels for ensuring continued delivery of petroleum products throughout the nation.

While praising NNPCL management for ensuring that independent marketers had access to the product in recent days, he pointed out that independent stations must be given priority for supplies to stabilize.

He claims that the Port Harcourt zone’s independent marketers were given 35 trucks during the past four days at the official pump price of N145.60, which caused the lines at the gas stations to vanish.

Independent marketers are currently unimpeded here in Port Harcourt. 35 trucks have already been delivered to us, and we still anticipate receiving ships for independent marketers.

“Despite the closure of the Port Harcourt Refinery depot, we continue to receive product from the private depots that NNPCL is utilizing for distribution. Members of DAPMAN are the owners of the private depots. Because the depot owners want to load the major marketers first, there are occasionally difficulties, he said.

Similarly, the Major Oil Marketers Association of Nigeria, MOMAN, yesterday, pledged its support towards ending the shortage.

In a statement, the association, said: “MOMAN continues to work with other key stakeholders to ensure that we ramp up supplies to our retail sites and return to normalcy as soon as possible. We envisage a rise in demand during the yuletide season and are prepared to work round the clock to keep our stations running.”

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *