After DSS Intervention NNPC to Sell Petrol to Independent Marketers at N995 Per Litre

After the intervention of the Department of State Services (DSS), the Nigerian National Petroleum Company Limited (NNPC) has agreed to sell Premium Motor Spirit (PMS) to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at an ex-depot price of N995 per litre.

The intervention comes after a standoff between NNPC and IPMAN over pricing, which had created price disparities and fuel queues in various cities.

Hammed Fashola, IPMAN’s National Vice President, confirmed the agreement and acknowledged that the DSS played a crucial role in defusing the crisis.

According to Fashola, the Nigerian Midstream and Downstream Petroleum Regulatory Authority also committed to settling IPMAN’s outstanding N10bn debt, further easing tensions.

He also mentioned that discussions with the Dangote refinery have been initiated to ensure direct fuel supply to independent marketers, a move he said is aimed at enhancing price competitiveness.

Fashola highlighted that with the N995 price, IPMAN members would no longer sell at significantly higher prices than major marketers.

He noted, however, that transportation costs would still factor into the final pump prices in different regions.

Our members sell at around N1,200 depending on the location, but with the N995 price, we expect some reduction. We are working on achieving a uniform price across zones, Fashola stated.

He further emphasised that resolving the price disparity between independent marketers and NNPC Retail would eliminate the fuel queues currently seen at some stations, largely due to significant price differences.

IPMAN’s leadership has also planned to meet with Dangote Refinery officials to finalise fuel purchase modalities, ensuring they secure the best prices for their members.

Fashola concluded that IPMAN would continue doing business with NNPC while exploring more cost-effective options.

At the same time, too, we are not ignoring NNPC. So, whichever way, we are ready to do business with NNPC. It depends on the price; we go for the best, he noted.

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