Tag: Petrol marketers

Marketers reduce petrol prices below ÆŠangote, NNPCL rates

Aminu Imam
Marketers reduce

Petrol marketers have reduced their pump prices to levels below what is being offered by the ÆŠangote Petroleum Refinery and the Nigerian National Petroleum Company Limited, (NNPCL). This move has triggered deel competition in the fuel market, even as ÆŠangote continues to urge the Federal Government to ban fuel importation to protect local refining. For instance, SGR station in Ogun offered petrol at ₦847 on Tuesday. Meanwhile, stations associated with ÆŠangote, such as MRS and Heyden, sell between ₦865 and ₦875 per litre. Depot prices have also dropped, with some…

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DSS-brokered peace: NNPC to sell PMS to IPMAN at N995/litre

Aminu Imam
NNPCL on fuel sale

The Nigerian National Petroleum Company Limited, (NNPCL), has finally agreed to sell petrol to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), at N995 per litre. This comes following the intervention of the Department of State Services (DSS), in the squabble between the two parties. IPMAN’s National vice-president, Hammed Fashola, stated that the intervention of the DSS solved a lot of challenges facing marketers. Fashola also confirmed that through their intervention, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA) agreed to pay the association’s outstanding N10bn while…

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‘Marketers selling petrol into Jerry cans, meter alteration, hoarding risk loss of license’ – NMDPRA

Aminu Imam
NMDPRA 2 marketers

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that marketers risk losing their licenses if they hoard fuel, sell into jerry cans, or tamper with their meters. During an inspection tour in Abuja on Friday,  NMDPRA’s Executive Director of Distribution Systems, Storage, and Retailing Infrastructure, Ogbugo Ukoha, who issued the warning, emphasised that retail petrol stations must stop selling fuel to black marketers, as this poses significant safety risks and violates federal regulations. “You need to take this warning very seriously. If you need security reinforcements, speak…

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