No More N1, 010 Per Litre! GOODNEWS As NNPC Agrees On New Fuel Price, See Exciting Details
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant reduction in the ex- depot price of petrol to N955 per litre for the Independent Petroleum Marketers Association of Nigeria (IPMAN). This development, reported by Daily Trust, is set to facilitate the resumption of fuel loading operations at depots across the country, a critical step in addressing the ongoing fuel scarcity issues plaguing Nigeria.
Abubakar Maigandi, President of IPMAN, confirmed that the agreement was reached following a series of negotiations between the two parties. The dispute had arisen when IPMAN and NNPC clashed over the ex- depot pricing of petrol from the Dangote refinery, which was initially set at a higher rate of N1, 010 per litre in Lagos. IPMAN accused NNPC of inflating prices beyond the purchase rates from the Dangote Refinery, prompting the association’ s members to demand refunds for deposits made to NNPC.
The situation escalated until the intervention of the Department of State Services (DSS), which played a key role in mediating the dispute and leading NNPC to revise the price downward. ” In Lagos, we are now receiving the product at a loading price of N995 per litre. Once loading commences today and tomorrow, the product will be readily available, ” Maigandi stated, offering reassurance to consumers and marketers alike.
Furthermore, Maigandi highlighted that discussions with Dangote Refinery concerning direct loading arrangements are ongoing. ” Once we finalize these negotiations, we will begin loading products directly from Dangote, ” he noted, indicating a shift towards a more efficient supply chain.
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