The Nigerian National Petroleum Company Limited (NNPCL) has finalized an agreement to sell Premium Motor Spirit (PMS) to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at ₦995 per litre. The deal follows the Department of State Services’ (DSS) intervention, which helped resolve disputes between NNPCL and IPMAN.
IPMAN Vice President, Hammed Fashola, praised the DSS for resolving key issues, including settling ₦10 billion owed to IPMAN and opening direct petrol purchases from the Dangote refinery. With this new ex-depot price, Fashola expects a slight reduction in fuel prices, though transportation costs may still affect final prices in certain areas.
IPMAN is working to bridge the price gap with major marketers and reduce fuel queues caused by price disparities. Talks with Dangote to finalize direct supply deals are also in progress, as IPMAN seeks the most competitive rates from both NNPC and local refineries.
News Editor