Oil Marketers Ready to Lower Fuel Prices

0 111

Independent oil marketers in Nigeria have expressed their willingness to sell premium motor spirit (PMS), commonly known as fuel, at rates lower than those offered at Nigerian National Petroleum Company Limited (NNPCL) retail stations if they can procure the product directly from NNPCL.

Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), highlighted the primary obstacle faced by independent marketers: the inability to access fuel directly from NNPCL depots.

Maigandi revealed that while NNPCL sells fuel to private depot owners at N557 per litre, independent marketers have to purchase the product from third parties at a higher rate of N630 per litre. He emphasized that if independent marketers could secure fuel directly from NNPCL, they would be able to offer lower prices, potentially benefiting the masses.

With 80% of retail outlets across the country under their purview, direct access to NNPCL’s supply could significantly reduce the cost of petrol for consumers.

Source: PUNCH

Leave A Reply