Business
IPMAN, NNPC agree to N995 ex-depot fuel price
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian National Petroleum Company Limited (NNPC) have agreed on a new ex-depot fuel price of N995 per litre.
This new ex-depot fuel price has enabled the restart of fuel loading at depots across the country.
Abubakar Maigandi, IPMAN president, told TheCable on Tuesday that the national oil firm had dropped the price to N955 per litre.
“In Lagos, they are giving us the product at the rate of N995 per litre as loading price. When they start loading today and tomorrow, there will be availability of the product.”
Speaking on the announcement that NNPC is no longer the official middleman for fuel delivery from the Dangote refinery to oil marketers, Maigandi stated that the parties are still bargaining.
“Immediately we finalise our negotiations, we are going to start loading our products directly from Dangote,” he said.
