NNPCL Pegs Ex-Depot Petrol Price At ₦479.50 Per Litre

by J.J Olawuyi

According to information obtained by The Bureau on Monday, the Nigerian National Petroleum Company Limited (NNPCL) has updated the ex-depot price of Premium Motor Spirit (PMS) gasoline to N479.50 per litre.

Additionally, it was discovered that while the marketers are not opposed to the subsidy’s elimination, they are concerned that the NNPCL is continuing to deliver them products that they have already paid for at the old rate since eight months ago.

They reportedly worry about getting their money back so they can pay off the debts they used to buy the tickets.

Alhaji Abubakar Maigandi, national vice president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), provided this information to The Nation over the phone.

Malam Garba Deen Muhammad, the chief communication officer of NNPCL, who was requested to address the accusation, did not return calls from The Nation.

Additionally, he did not respond to The Nation’s SMS message.

Maigandi said when questioned about the increased ex-depot pricing: “The price has started trickling out. The pricing has begun to be released by several depots.They are being sold for N479.50 each. The ex-depot price is that much.

You know the banks are charging you based on the money they lent to you, he added, lamenting the NNPC’s application of new pricing for old tickets.

“Again, because it has been eight months, we Independent Petroleum Marketers have already purchased the oil from NNPC. They are now claiming that they will provide us the product at this new price rather than the one we previously paid.

“And they (NNPCL) purchased this item with our funds, I believe. These are some of the difficulties we are now facing.


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