Fuel Price: The ex-depot price has been set by NNPCL at ₦479.50 per litre

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Nigerian National Petroleum Company Limited (NNPCL) has released a new ex-depot price of N479.50 per litre of Premium Motor Spirit (PMS) petrol to the marketers, The Nation learnt on Monday.

It was also gathered the marketers are not against the removal of subsidy but are worried that the NNPCL is giving them the product paid for at the old rate since eight months ago for the new rates. They are said to be concerned about recovering money to pay for the loans with which they purchased the tickets.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), National Vice President, Alhaji Abubakar Maigandi told The Nation these on the phone. NNPCL Chief Communication Officer, Malam Garba Deen Muhammad, who was asked to respond to the allegation, did not respond to calls by The Nation.

He also failed to reply the text message that The Nation sent to him. Asked about the new ex-depot price, Maigandi said: “The price has started coming out. Some depots have started releasing the price. “They are selling at the rate of N479.50. That is the ex-depot price.” Lamenting over NNPC’s application of new prices for old tickets, he said, “You know the banks are charging you based on the money they lent to you.

“Again, we, the Independent petroleum marketers have already purchased the product from NNPC since getting to eight months. Now they are saying they will give us the product for this new rate and not the old rate we paid at. “And it is with our money they (NNPCL) bought this product. These are part of the challenges we are encountering nowChatGPT

According to information obtained by The Nation, the Nigerian National Petroleum Company Limited (NNPCL) has recently announced a new ex-depot price of N479.50 per litre for Premium Motor Spirit (PMS) petrol to be supplied to marketers. While the marketers do not oppose the subsidy removal, their concern lies in the fact that they have been receiving the product at the old rate for the past eight months, despite the new rates.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) National Vice President, Alhaji Abubakar Maigandi, expressed these concerns during a phone conversation with The Nation.

Maigandi highlighted the challenge faced by marketers in recovering funds to repay loans taken for purchasing the product.
When approached for a response to these allegations, the NNPCL Chief Communication Officer, Malam Garba Deen Muhammad, did not answer calls or respond to the text message sent by The Nation.

Regarding the new ex-depot price, Maigandi confirmed that some depots have already started implementing it, selling at the rate of N479.50 per litre.

The situation has led to frustration among independent petroleum marketers who had already purchased the product from the NNPCL at the previous rate, using their own funds. These challenges underscore the difficulties faced in the current situation.

Yakubu Atanda

A graduate of Mass Communication and Digital Multimedia Technologist, An experienced Web/Content Developer, He has served a reputable Media Organization in Nigeria with the use of modern technology gadget to disseminate information to the general public.

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