NNPCL Agrees to Supply Petrol to Independent Marketers at N995/Litre

Following the Department of State Services’ intervention, the Nigerian National Petroleum Company Limited will now sell petrol to the Independent Petroleum Marketers Association of Nigeria at N995 per litre

The Nigerian National Petroleum Company Limited (NNPCL) has officially agreed to supply Premium Motor Spirit (PMS) to the Independent Petroleum Marketers Association of Nigeria (IPMAN) at a price of N995 per litre. This decision follows a critical intervention by the Department of State Services (DSS), resolving key disputes between both parties. The new NNPCL petrol price for IPMAN aims to bring balance to the market, ensuring that independent marketers can compete fairly with major marketers.

Hammed Fashola, IPMAN’s National Vice President, emphasized that the DSS intervention resolved many issues affecting fuel supply and prices. He also confirmed that the NNPCL petrol price for IPMAN will allow the association to adjust their pricing, making it more competitive, especially for stations far from Lagos where transportation costs inflate the retail prices.

While independent marketers previously sold petrol at around N1,200 per litre in various regions, Fashola expects the NNPCL petrol price for IPMAN to slightly lower these rates, depending on transportation and other operational costs. He noted, however, that a uniform pricing strategy is still under review.

In response to concerns about the price disparity between independent marketers and major fuel suppliers, Fashola stressed that closing this gap is a priority. The newly agreed NNPCL petrol price for IPMAN is seen as a step toward achieving that goal. This, he hopes, will ease market tension and help reduce the long queues at fuel stations, which he attributes to the price differences.

The agreement also allows IPMAN to explore direct purchases from the Dangote refinery, though the association plans to balance its supply between NNPCL and Dangote, depending on which offers the best deal.