IPMAN, NNPC seal N995/L ex-depot deal
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian National Petroleum Company Limited (NNPC) have reached an agreement on a new ex-depot price of N995 per litre for petrol.
This decision has paved the way for the resumption of fuel loading at depots across the country.
Speaking to TheCable on Tuesday, Abubakar Maigandi, IPMAN president, said the national oil company reduced the price to N955 per litre.
Read also: IPMAN expresses concern over fuel hike, scarcity
“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, there will be availability of the product.”
Speaking on the announcement that NNPC is no longer the official middleman for petrol supply from Dangote refinery to oil marketers, Maigandi said the parties are still negotiating.
“Immediately we finalise our negotiations, we are going to start loading our products directly from Dangote,” he said.
