Business

IPMAN Seeks Direct Fuel Supply From NNPCL To Offer Lower Prices For Nigerians

Independent oil marketers are calling for direct access to premium motor spirit (PMS) from the Nigerian National Petroleum Company Limited (NNPCL) to offer lower prices to consumers.

Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), emphasized this in an interview.

Maigandi highlighted the challenges independent petroleum marketers face, citing the disparity between NNPCL’s rate of N557 per liter to private depot owners and the N630 per liter they buy from third parties.

This, he explained, leads to higher prices, with IPMAN members selling at around N650 per liter, impacting 80% of the market share.

“If we get it directly from NNPCL,” Maigandi stated, “we can even sell below their rate for the masses to enjoy our services.”

The IPMAN president emphasized the potential reduction in petrol costs if sourced directly from NNPCL, which could benefit consumers nationwide.

Revealing the association’s efforts to address the issue with the government, Maigandi expressed confidence in finding a resolution.

He highlighted the importance of independent marketers, covering both urban and rural areas, unlike other associations focused mainly on cities.

IPMAN’s claim of NNPCL holding over N300 billion of its members’ money, intended for PMS purchase, which NNPCL denied. Presently, NNPCL remains the primary importer of petroleum products in Nigeria.

The call for direct fuel supply underscores the need to address pricing discrepancies and ensure fair access to petroleum products for consumers across the country.

Victor Ezeja

Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.