The Nigerian national petroleum company limited (NNPC) has agreed to sell premium motor spirit (petrol) to members of independent petroleum marketers association of Nigeria ( IPMAN) at N995 per litre, this new pricing comes after the department of state services (DSS) intervened in the dispute between NNPC and IPMAN, aiming to settle issues surrounding fuel supply and pricing.
IPMAN’s national vice president, Hammed Fashola confirmed the development and expressed gratitude for the DSS’s role in brokering peace between both parties. He assured nigerians that with the new export price, independent marketers will now sell lesser than they were selling. as they were selling as high as N1,200 in areas outside lagos due to transportation costs.
He noted that although the new price is expected to bring down the pump price, factors like transportation from Depot will play a huge role in determining pump price… according to him the association is working towards ensuring uniformity in prices across various regions. The association seeks to close the price gap between NNPC and independent marketers. A major challenge that has resulted in long queues at some filling stations and fuel scarcity .
Fashola attributed the recent queues at some filling stations to the disparity in pricing. stating that once prices aligned, supply would stabilize and motorists would need not queue to get fuel, IPMAN intends to explore purchasing fuel directly from local refineries, particularly Dangote refinery, following a directive from the federal Government, a meeting between IPMAN and Dangote is scheduled to finalize details.
Fashola stressed that IPMAN will do business with only suppliers offering best prices, whether NNPC or Dangote.
This move is expected to bring relief to consumers, as 70% of filling stations are controlled by independent marketers nationwide.
