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Petrol Prices To Go Down As NNPCL Agrees To Deal Directly With IPMAN

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The scarcity of petrol and the arbitrary price increases being experienced throughout the country will be relieved in the coming days due to an agreement reached between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian National Petroleum Company Limited (NNPCL). Key players in the downstream sector of the oil and gas industry recently held a meeting with various security agencies to resolve the issue. The national operations controller of IPMAN, Mr. Mike Osatuyi, confirmed the development and stated that IPMAN has no plans to halt operations following the government’s announcement to enforce a pump price of N195 per liter. Under the agreement, Osatuyi stated that the Association’s members will receive their supply directly from NNPCL.

According to Osatuyi, the independent marketers have been assured of a direct supply of petrol from the NNPCL, which will help resolve the persistent scarcity. The agreement was reached after a critical meeting between NNPCL, Major Marketers Association of Nigeria (MOMAN), IPMAN, Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN), and the Department of State Services (DSS) among others. Osatuyi stated that the NNPCL has agreed to sell petrol directly to IPMAN members at the official regulated price, instead of using intermediaries who have been blamed for inflating wholesale supply prices. He believes that this direct sale will reduce the cost of petrol and immediately bring retail prices back to the regulated retail price.

On Sunday, IPMAN dismissed the rumors that marketers were planning to shut down their operations starting from Monday when the government enforces the N195/liter pump price. Osatuyi felt it was important to clear up the false suggestion that IPMAN members were going to close their stations. He stated that the NNPCL is getting ready to provide gasoline directly to IPMAN members. He advised members to open their stations and begin selling to the public across the country. He emphasized that IPMAN is a responsible association that would not engage in actions that could harm national security, as gasoline is a crucial product for national security. The agreement to ease the scarcity and arbitrary price increases of petrol is expected to have a positive impact on the cost of petrol. It does not signify a change in the price of AGO/MGO

Source:  Oriental news, Leadership NG

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  1. Greetings! Very useful advice in this particular article! Its the little changes that will make the biggest changes. Thanks for sharing!

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