NNPC Permits IPMAN to Lift Petrol at Lower Price Amid DSS Intervention

NNPC Permits IPMAN to Lift Petrol at Lower Price Amid DSS Intervention

The Nigerian National Petroleum Company Limited (NNPCL) has agreed to allow members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to lift Premium Motor Spirit (petrol) from its depots at a reduced price.

This development follows the intervention of the Department of State Services (DSS), which helped resolve the ongoing dispute between NNPCL and IPMAN.

Additionally, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has committed to issuing import and off-taker licenses to independent marketers.

This would enable them to either directly import fuel or purchase it from the Dangote Refinery, aligning with the government’s deregulation of the oil sector.

IPMAN had previously threatened to halt operations due to the high costs associated with loading petroleum products from NNPCL.

They disclosed that while NNPCL was purchasing fuel from the Dangote Refinery at ₦898 per liter, it was selling the same product to independent marketers at ₦1,010 in Lagos, ₦1,045 in Calabar, ₦1,050 in Port Harcourt, and ₦1,040 in Warri. IPMAN argued that this price disparity was unfair and also demanded a refund for payments made for previous supplies.

Following a meeting organized by the DSS Director-General, Adeola Ajayi, a resolution was reached.

NNPCL has agreed to permit IPMAN members to load products worth ₦15 billion, covering the outstanding debts owed to the marketers.

IPMAN National Publicity Secretary, Chinedu Ukadike, confirmed that the NMDPRA also agreed to issue import licenses to support full deregulation in the oil sector.

While the NMDPRA spokesperson was unaware of the meeting, the authority has also reportedly resolved to pay ₦10 billion in outstanding payments under the Petroleum Equalisation Fund to the marketers.

This resolution is expected to ease tensions and ensure continued fuel distribution across thec ountry.