NNPC Sells Petrol For N148, Private Depots N215 As Scarcity Persists

As the fuel scarcity across the country bites harder, NNPC sells petrol for N148 while private depots sell for N215.

 

Newsonline reports that depots and the Petroleum Products Marketers Association of Nigeria, DAPPMAN, continued to sell petrol at N215 per litre to marketers, while Nigerian National Petroleum Company Limited, NNPCL depots sell for N148 per litre across the country.

Also: NNPC Slashes Price For Marketers To Ease Petrol Scarcity

 

Independent marketers that patronise the private depots sell the product at over N220 per litre, while the major oil marketers sell at N170 per litre at their filling stations.

Many filling stations across the country were shut and the ones with stock continued to sell the product to motorists and other parties at far over the official price, while the ones selling for below N200 had long queues, Vanguard reports.

 

In Abuja, fuel stations offering the product at the government price of N169 had queues, while the independent marketers, which were selling the product for between N220 and N300 had no queues.

In Lagos, the situation was almost the same, but the little difference was that most of the filling stations offering the product at government-regulated price did not have the product, while the ones selling for N220 also had queues.

In Lagos, black markets dotted the town, particularly in Festac Town, Maryland, Ikeja, Yaba and Mile 2 areas, as the operators charged between N300 and N400 per litre, depending on location.

 

NMDPRA not monitoring compliance

Officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, were not visible to monitor and enforce compliance despite the prevalence of many irregularities, including product diversion and arbitrary pricing nationwide.

Chief Executive Officer, NMDPRA, Farouk Ahmed, did not respond when Vanguard called repeatedly for his reaction yesterday, to the development.

Meanwhile, NMDPRA on its website, yesterday,  said: “The agency encompasses a merger of three defunct regulatory agencies: Petroleum Products Pricing Regulatory Agency, PPPRA, Petroleum Equalization Fund (Management) Board, PEFMB, the Midstream and Downstream Divisions of the Department of Petroleum Resources, DPR. This birth has ushered in a new dawn for establishing a progressive regulatory framework that encourages investment and full optimisation of the midstream and downstream sectors of the petroleum industry in Nigeria. The authority is responsible for the regulation of the midstream and downstream petroleum operations in Nigeria, which includes technical, operational and commercial activities.”

 

NNPC, IPMAN response

Meanwhile, NNPCL and independent petroleum marketers have concluded plans to ensure the lifting of petrol in Lagos, Port Harcourt, Calabar and Oghara, (Delta State) in January 2023 as part of measures to end Nigeria’s prolonged petrol shortage.

Vanguard gathered weekend that the decision was taken at meetings between the NNPCL and the independent marketers. They are expected to take the product to other parts of the nation to enhance distribution.

 

It showed that the decision was a response to the Independent Petroleum Marketers Association of Nigeria, IPMAN, whose members had complained about discrimination in the distribution process.

National Controller Operations, IPMAN, Mike Osatuyi, who confirmed the development in an interview with Vanguard, yesterday, said: “It is true that the NNPCL has agreed to supply the product directly to our members in Lagos, Port Harcourt, Calabar and Ogara. We are happy about it and will do our best to enhance distribution nationwide from January 2023.”