- Oil marketers reported that the Nigerian National Petroleum Company Limited (NNPCL) has closed its purchasing portal, preventing them from placing orders for petrol
- More than 90 million litres of petrol, valued at around N79 billion, was reportedly pending
- Nigerian National Petroleum Company Limited (NNPCL) spokesperson Olufemi Soneye assured that the portal will reopen after clearing backlogs
Oil marketers have reported that the portal of the Nigerian National Petroleum Company Limited (NNPCL), which is used for purchasing petrol, has been closed to dealers, preventing them from submitting applications for the commodity.
According to the marketers, they are currently waiting for more than 90 million litres of petrol from the company, amounting to around N79 billion.
Petrol marketers still awaiting portal opening
The marketers reported that the NNPC was actively working to clear the backlogs over the weekend according to the Punch.
Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, said the association is still looking forward to the portal being opened.
“They are on it, our marketers are still loading petrol from the NNPC. I can’t confirm the price now because the portal is still shut down,” Ukadike stated.
Independent marketers report over 2,000 pending tickets
While the NNPC did not reveal the worth of the backlogs, independent marketers stated that there are over 2,000 tickets still pending clearance with the company.
Ukadike explained that a truckload of PMS, holding 45,000 litres, is approximately N39.5 million, equating to N79 billion when scaled up to 2,000 loads.
“We have more than 2,000 tickets for 45,000 litres (of petrol). That is 45,000 multiplied by 2,000, you can now know the number of million litres it will be. This is just an estimate, you know I don’t work with NNPC and I don’t know what is on their system.”
Recall that while marketers have expressed concerns about their inability to place petrol orders, the NNPC acknowledged last month, September that its purchasing portal was closed, providing explanations for the decision.
Soneye explains portal closure due to a huge backlog
According to spokesperson Olufemi Soneye, the NNPC decided to close the portal in response to a huge backlog. He clarified that the shutdown was necessary to stop the NNPC from holding onto marketers’ capital for excessive periods.
He said, “We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period.”
He assured marketers that the portal would reopen once the backlog is decreased.
“It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible,” spokesperson Olufemi Soneye stated.
NNPC announces freedom for marketers to source petrol directly, challenging Dangote’s statements
Meanwhile, TheRadar earlier reported that with the Nigerian National Petroleum Company Limited's policy, allowing direct purchases from Dangote Refinery, oil marketers evaluated whether to buy locally or import petrol.
Marketers considered buying from Dangote if prices were competitive and may import if cheaper.