Utweets
Oil marketers and NNPC have reached an agreement on the ex-depot price of petrol after weeks of negotiation. The agreement was reached by two parties following the intervention of the Department of State Services. The Nigerian National Petroleum Company Limited (NNPC) has agreed to lower the ex-depot price of petrol for the Independent Petroleum Marketers Association of Nigeria (IPMAN). ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
This decision will now pave the way for the resumption of fuel loading at depots across the country.
Legit.ng had reported that IPMAN and NNPC limited were at loggerheads over the ex-depot pricing of the Dangote refinery petrol, which was set at N1,010 in Lagos.
IPMAN accused NNPC of increasing its prices to a rate higher than the rate purchased from the Dangote Refinery.
The decision 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 national oil company has reduced the ex-depot price to N955 per litre.
Regarding the resolution, Maigandi mentioned that the Department of State Services (DSS) intervened in the dispute, prompting NNPC to revise the price downwards.
“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, the product will be available.”. Commenting on the announcement that the NNPC will no longer serve as the official intermediary for petrol supply from the Dangote refinery to oil marketers, Maigandi stated that negotiations between the parties are still ongoing, according to BusinessDay.
He said
“Immediately we finalise our negotiations, we are going to start loading our products directly from Dangote”...For More READ THE FULL STORY ▶▶
