After multiple complaints and threats to halt operation nationwide, the Nigerian National Petroleum Company Limited (NNPCL) has capitulated by allowing oil marketers, who operate under the umbrella of Independent Petroleum Marketers Association of Nigeria (IPMAN), to begin loading petrol from its depot at a lower price.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has pledged to grant import and off-taker licenses to oil dealers.
This will enable them to import fuel directly from the Dangote Refinery, in accordance with the government’s strategy to completely deregulate the oil sector.
During a recent peace meeting facilitated by Adeola Ajayi, the Director General of the Department of State Services, a new agreement was established.
Under this agreement, the national oil company has authorized the loading of products to settle the N15 billion debt owed to the marketers.
Speaking on the development, Chinedu Ukadike, the spokesman of IPMAN said, “We were invited by the Director of the Department of State Services to resolve the ongoing issue between the association and the NNPCL.
“The meeting was on the non-compliance of selling PMS to IPMAN by Dangote Refinery and the problem we are having with NNPCL in terms of pricing. Based on this, the director of DSS invited us and brokered peace.
“Among what was agreed upon after a meditation process led by our National President Abubakar Maigandi, NNPCL has agreed to make some reductions and allow independent marketers to load out those tickets that amount to N15bn immediately.”