See new fuel price as NNPC, Marketers reach agreement, begin loading

• Oil marketers and NNPC person reached an statement successful the ex-depot terms of petrol aft weeks of negotiation
• The statement was reached by 2 parties pursuing the involution of the Department of State Services
• Although not overmuch terms simplification is expected astatine filling stations, the statement volition assistance destruct substance queues

The Nigerian National Petroleum Company Limited (NNPC) has agreed to little the ex-depot terms of petrol to N955 per litre for the Independent Petroleum Marketers Association of Nigeria (IPMAN)

The improvement was confirmed by Abubakar Maigandi, President of IPMAN, pursuing negotiation.

New petrol terms astatine filling stations Photo credit: Benson Ibeabuchi
Source: Getty Images

This determination volition present pave the mode for the resumption of substance loading astatine depots crossed the country.

Legit.ng had reported that IPMAN and NNPC constricted were astatine loggerheads implicit the ex-depot pricing of the Dangote refinery petrol, which was acceptable astatine N1,010 successful Lagos.

IPMAN accused NNPC of expanding its prices to a complaint higher than the complaint astatine which NNPC purchased from the Dangote Refinery.

The determination forced IPMAN members to demand a refund of the deposit already to NNPCL for the product.

New ex-depot petrol price

Maigandi, President of IPMAN, disclosed to TheCable that the nationalist lipid institution has reduced the ex-depot terms to N955 per litre.

Updating connected the resolution, Maigandi mentioned that the Department of State Services (DSS) intervened successful the dispute, prompting NNPC to revise the terms downwards.

“In Lagos, they are giving america the merchandise astatine the complaint of N995 per litre arsenic loading price. When they commencement loading contiguous and tomorrow, the merchandise volition beryllium available.”

Speaking connected the announcement that NNPC is nary longer the authoritative middleman for petrol proviso from Dangote refinery to lipid marketers, Maigandi said the parties are inactive negotiating, BusinessDay reports.

He said

“Immediately we finalise our negotiations, we are going to commencement loading our products straight from Dangote”.

FG approves lipid marketers buying Dangote petrol

Legit.ng earlier reported that the Nigerian authorities directed petroleum marketers to assistance petroleum products, particularly PMS, from the Dangote Refinery.

The government’s support ends the Nigerian National Petroleum Company Limited's (NNPC) relation arsenic the sole distributor of the refinery’s petrol, starring to the full deregulation of the downstream lipid sector.

Wale Edun, president of the Naira-For-Crude Sale Implementation Committee and curate of Finance, said the improvement is portion of the government’s bigger program to deregulate the petroleum marketplace and promote competition.

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Source: Legit.ng