- NNPCL has agreed to sell petrol to IPMAN members at N995 per litre, following intervention from the DSS
- The DSS facilitated discussions between NNPCL and IPMAN, helping to resolve long-standing issues between the two parties
- The agreement seeks to address price disparities among marketers and establish more uniform pricing across regions
The Nigerian National Petroleum Company Limited (NNPCL) has reached an agreement to sell petrol to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at N995 per litre.
This resolution came after the Department of State Services (DSS) stepped in to mediate the ongoing dispute between the two parties.
Hammed Fashola, the National Vice President of IPMAN, expressed gratitude for the DSS’s intervention, which he said had resolved numerous challenges faced by petroleum marketers.
According to him, the involvement of the DSS helped foster understanding between the NNPCL and IPMAN, bringing about an agreement to work together.
“We really appreciate their intervention. They are doing their job. Anywhere they see a potential crisis, it is their duty to step in. Their intervention brokered peace and understanding between the parties, and now everybody has agreed to work together,” Fashola stated.
He disclosed that NNPCL is tentatively offering petrol at N995 per litre to IPMAN members. Currently, petrol is sold at about N1,200 per litre in some areas, largely due to transportation and other related costs. Fashola noted that the reduction in price, while significant, would still vary depending on location.
“We want to work on a common ground when it comes to pricing. Once we sit down and analyse the price offered to us and consider transportation and other expenses, we aim to have a more uniform price across various zones,” he explained.
He added that the price disparity between IPMAN members and the NNPC Retail and major marketers has been a significant disadvantage, but with this agreement, they hope to bridge that gap and stabilise the market.
The lack of direct supply has been a major issue for independent marketers, but Fashola is optimistic that the agreement will solve these problems, leading to more competitive pricing across the country.
NLC leader Ajaero slams FG, calls for an end to frequent petrol price increases
Meanwhile, TheRadar earlier reported that the Nigeria Labour Congress (NLC) demanded immediate reversal of the latest petrol price hike.
Labour President, Joe Ajaero, criticised the government for repeatedly raising fuel prices without addressing workers’ minimum wage.
