Tag: Petroleum Marketers

“We’re no cabal; we only have vested interest just like you” – Petroleum marketers tell Ɗangote

Aminu Imam
Petroleum marketers & Ɗangote2

The Depot and Petroleum Products Marketers Association of Nigeria, (DAPPMAN) says no cabal in the midstream and downstream sector, just individuals with vested interests. Recall that on May 1, president of the Ɗangote Group, Aliko Ɗangote, said he was still fightingcabals for the survival of his $20 billion refinery — subsequently describing “cabals” as some major oil marketers and traders. However, speaking in a televised interview on Friday, the Executive Secretary of DAPPMAN, Olufemi Adewole, described the use of “cabals” by Ɗangote as being “negative” and “subversive”. “There is no…

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Dispute with Marketers: NNPCL denies petrol price increment to N1, 200

Aminu Imam

… Says subsidy entirely removed  The Nigerian National Petroleum Company (NNPC) Limited has debunked reports that it plans to increase the price of petrol to N1, 200 per litre. Reports emerged yesterday that NNPC will announce a new increase in the price of fuel across the country.  However, reacting to the report which has generated mixed reactions, NNPC said there are no plans to hike the price of fuel. The statement, which was signed by the NNPC’s Group Communications, Officer, Olufemi Soneye, read: NNPC Ltd emphasises that it has not…

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Petrol price to crash as NNPCL, Marketers fuel vessels set to arrive next week

Aminu Imam

The pump price of Premium Motor Spirit (PMS), otherwise called petrol, is expected to crash as major oil marketers are importing large consignments. According to major and independent dealers, the fuel is expected to hit Nigeria next week. The development is said to have boosted the confidence of operators as industry observers say this may force down the price of the commodity. Also, crude oil refiners were currently releasing refined petroleum products on credit to dealers from Nigeria. This is due to the recent unification of the countrys exchange. Meanwhile,…

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No plan to increase fuel to N700 per litre IPMAN

Aminu Imam

Nigerias Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied reports that it plans to increase the pump price of Premium Motor Spirit (PMS), popularly known as petrol, to N700 per litre nationwide. This was disclosed by the Chairman of IPMAN South-West zone, Dele Tajudeen,?who stated this? in an interview with the newsmen yesterday. The Marketers urged Nigerians to disregard the reports, stating that the price would not be more than what is being sold. Tajudeen?stressed that the price of the product would not be more than what is being…

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Petroleum Marketers project N700/litre for petrol pump price

Aminu Imam

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has projected that the pump price of petrol could rise above N700 per litre in some States in the country starting from July. IPMANs National Controller Operations, Mike Osatuyi, who disclosed this during an interview, said theyve projected that those living in northern part of the country could pay as much as N700 and above for one litre of petrol, while residents of Lagos would pay about N600 for a litre and those outside Lagos would pay around N610. Osatuyi said the…

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‘Worst fuel scarcity is coming’ Petroleum Marketers alert Nigerians

Aminu Imam

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has asked Nigerians to prepare for the worst fuel crisis. The IPMAN chairman, Kano State chapter, Bashir Danmalam, made the remarks while addressing a news conference in Kano State on Monday. The marketers, however, asked the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), to pay its members their outstanding bridging claims amounting to over N500 billion in order to avoid the scarcity. According to him, the failure of the NMDPRA to pay the bridging claims,…

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