Tuesday, July 1, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Economy

NNPC Permits Oil Marketers To Lift Fuel At Lower Price

IPMAN had revealed on Thursday that the cost of petrol from the Dangote Petroleum Refinery to NNPC was about N898/litre, but noted that NNPC was selling the same product to independent marketers at N1,010/litre in Lagos.

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
October 13, 2024
in Economy, News
1
NNPCL Denies $6.8bn Debt Allegations
0
SHARES
27
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The Nigerian National Petroleum Limited Company (NNPCL) has formally agreed to permit oil marketers, who operate under the auspices of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to commence the lifting of Premium Motor Spirit (petrol) from its depot at a lower price.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has also committed to issuing import and off-taker licenses to the oil dealers to either import fuel directly or purchase products straight from the Dangote Refinery in line with the government plan to fully deregulate the oil sector.

Related posts

Over 2 Million Voters Registered For Ondo Poll, INEC Reveals

2027: Deregister dormant political parties, Wole Oke Urges INEC

June 30, 2025
Speed Darlington Demands N2.5m From NAPTIP To Honour Invitation

Speed Darlington Demands N2.5m From NAPTIP To Honour Invitation

June 30, 2025

This came after the association threatened to cease operations nationwide due to the high costs associated with loading petroleum products from NNPCL facilities.

IPMAN had revealed on Thursday that the cost of petrol from the Dangote Petroleum Refinery to NNPC was about N898/litre, but noted that NNPC was selling the same product to independent marketers at N1,010/litre in Lagos.

According to him, NNPC purchased the product from the refinery at N898/litre but is asking marketers to buy it at N1,010/litre in Lagos; N1,045 in Calabar; N1,050 in Port Harcourt; and N1,040 in Warri.

“Our major challenge now is that independent marketers have an outstanding debt from the NNPC and the company collected products through Dangote at a lower rate, which is not up to N900, but they are telling us now to buy this product from them at the price of N1,010/litre in Lagos; N1,045 in Calabar; N1,050 in Port-Harcourt; and N1,040 in Warri,” Maigandi stated.

According to him, NNPC purchased the product from the refinery at N898/litre but is asking marketers to buy it at N1,010/litre in Lagos; N1,045 in Calabar; N1,050 in Port Harcourt; and N1,040 in Warri.

“Our major challenge now is that independent marketers have an outstanding debt from the NNPC and the company collected products through Dangote at a lower rate, which is not up to N900, but they are telling us now to buy this product from them at the price of N1,010/litre in Lagos; N1,045 in Calabar; N1,050 in Port-Harcourt; and N1,040 in Warri,” Maigandi stated.

“Among what was agreed upon after a meditation process led by our National President Abubakar Maigandi, NNPCL has agreed to make some reductions and allow independent marketers to load out those tickets that amount to N15bn immediately.”

Ukadike further disclosed that the NMDPRA agreed to issue IPMAN import licenses to be able to embrace full deregulation in the sector.

When contacted, the NMDPRA spokesperson, George Ene-Ita, claimed not to be aware of the meeting. “I am sorry, I am not aware of any meeting or license approval. I was not part of it.”

Meanwhile, the NMPDRA has resolved to make a payment of N10bn to the oil marketers as outstanding payments under the Petroleum Equalization Fund.

 

PUNCH

Tags: Fuel PriceIndependent Petroleum Marketers Association of Nigeria (IPMAN)Nigerian National Petroleum Company Limited (NNPCL)Oil Marketers

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

Woman Abuse Allegations: Aiyedatiwa’s Aide Clarifies Viral Video

Next Post

Jigawa Police Detains 26-Year-Old Man For Setting Grandma Ablaze

Next Post
Hardship Protest: 50 Detained In Nasarawa

Jigawa Police Detains 26-Year-Old Man For Setting Grandma Ablaze

Comments 1

  1. SocialMediaGirls says:
    9 months ago

    SocialMediaGirls Good post! We will be linking to this particularly great post on our site. Keep up the great writing

RECOMMENDED NEWS

Aiyedatiwa: No Knowledge Of Vote-Buying In My Name

Aiyedatiwa: No Knowledge Of Vote-Buying In My Name

7 months ago
Bangladesh Police Detain 500 People Amid Violent Protest

Bangladesh Police Detain 500 People Amid Violent Protest

11 months ago
UCH Doctors Embark On Indefinite Strike Over Power Outage

UCH Doctors Embark On Indefinite Strike Over Power Outage

4 months ago
Zaria To Get 7 New Federal Institutions In 2025 Budget – Speaker Tajudeen

Zaria To Get 7 New Federal Institutions In 2025 Budget – Speaker Tajudeen

4 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections Akpabio Alaafin Of Oyo Alaafin Of Oyo Coronation APC Atiku Bola Tinubu Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha National Power Grid Nigeria Labour Congress (NLC) Nigerian National Petroleum Company Limited (NNPCL) Nigeria Police Force Nnamdi Kanu NNPC NNPCL Oil Marketers PDP Peter Obi Petrol Price President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Sexual Harassment Tax Reform Bills Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • 2027: Deregister dormant political parties, Wole Oke Urges INEC
  • JUST IN: PDP NEC Affirms Anyanwu As National Secretary
  • JUST IN: Damagum, Govs Present As PDP Holds NEC Meeting
  • ECN DG Reiterates Commitment To National Energy Through Renewed Hope Solar Projects

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

Over 2 Million Voters Registered For Ondo Poll, INEC Reveals

2027: Deregister dormant political parties, Wole Oke Urges INEC

June 30, 2025
BREAKING: Supreme Court Declares Anyanwu PDP’s National Secretary

JUST IN: PDP NEC Affirms Anyanwu As National Secretary

June 30, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights