A Review of the Nigerian Energy Industry

Fuel-selling at N133.28/litre NNPC faults IPMAN

*A customer getting fuel a filling station.

Ike Amos

01 December 2017, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation (NNPC), Thursday, faulted claims by Independent Petroleum Marketers Association of Nigeria (IPMAN), accusing it of hiking the price of Premium Motor Spirit, PMS, also known as petrol.

The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said its ex-depot price of the commodity is currently N133.28 per litre and at no time was it increased.

Ughamadu declared that the Ejigbo Satellite Depot had consistently dispensed premium motor spirit (petrol) at the approved price of N133.28 per litre contrary to allegations that it was sold at a higher price.

He stated that this clarification became necessary following reports of threats by the Lagos Chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to withdraw its services in Lagos and its environs sequel to alleged discrepancies in ex-depot prices, among others.

He added that the appropriate government agencies have been contacted to settle the rift between IPMAN and the Depot and Petroleum Products Marketers Association (DAPPMA).

He further restated the commitment of the NNPC to ensuring copious supply of petroleum products across the country to aid hitch-free movement of motorists during and beyond the Festive Season.

He added that the Ejigbo Satellite Depot was fully stocked and carrying out regular loading services.

In addition, Ughamadu disclosed that there was enough petroleum products in the country to last till the end of the year and that 25 vessels laden with petroleum products were also being expected to berth between now and January 2018 to further boost supplies.

“The Corporation, therefore, urged members of the public not to entertain any fear or engage in panic buying of petroleum products as there was enough to keep the country well supplied,” he said.

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