The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the Nigerian National Petroleum Company (NNPC) has agreed to reduce the ex-depot price of petrol for its members.
Speaking on Tuesday, Abubakar Maigandi, IPMAN president, said the national oil company reduced the price to N955 per litre.
On October 10, the IPMAN president had said the NNPC asked the association’s members to buy the product at N1,010 in Lagos, noting that the price was higher than the amount the company had bought from the Dangote refinery.
He asked the NNPC to sell the commodity to IPMAN members at the Dangote refinery rate or refund the oil marketers.
Providing updates, Maigandi said the Department of State Services (DSS) intervened in the matter, leading to a decision by the NNPC to reduce the price.
He added that the NNPC also promised to commence sales of the product today.
“As we complained to them (NNPC), the DSS intervened, and the NNPC reduced some certain amount out of what we were supposed to pay,” Maigandi said.
He added that the NNPC promised to commence “loading today and that they would start presenting our tickets”.
“We are waiting for them so that we will start loading today, so that the scarcity will reduce or disappear,” he said.
“In Lagos, they are giving us the product at the rate of N995 per litre as loading price. When they start loading today and tomorrow, there will be availability of the product.”
Speaking on the announcement that NNPC is no longer the official middleman for petrol supply from Dangote refinery to oil marketers, Maigandi said the parties are still negotiating.
“Immediately we finalise our negotiations, we are going to start loading our products directly from Dangote,” he said.
On October 9, the NNPC increased the price of petrol across its retail outlets to N998 per litre in Lagos, and N1,003 in Abuja
