Local News

Petrol scarcity: NNPC slashes price for marketers

VOICE AIR MEDIA

In a bid to ease the challenges facing by Nigerians to access the product, the Nigerian National Petroleum Company Limited, NNPCL, yesterday, adopted new measures aimed at guaranteeing adequate fuel supply across the country, by fixing N148 per litre as the price for lifting petrol at depots.

It also agreed to supply outstanding stock to independent oil marketers, to end product shortage.

This came as the independent marketers said they had been lifting the product from private depots at about N200 per litre, which made it impossible for them to meet the Department of State Services, DSS, 48-hour directive last week.

They said that the situation also led to their inability to sell petrol at the N170 per litre like their major marketers’ counterparts and NNPCL.

Vanguard, gathered yesterday, that a meeting was held between NNPCL, marketers and all the stakeholders, where the issues were resolved.

Operations Controller, Independent Petroleum Marketers Association of Nigeria, IPMAN, Mr. Mike Osatuyi, who confirmed the development, said: “Our members have now been allowed to lift petrol at N148 per litre, meaning that we can now reduce our pump prices. We are committed to working with other parties to tackle the shortage across the country as quickly as possible.” (Vanguard)

VAM News

Recent Posts

154 Aspirants Jostle for 24 Assembly Seats, 16 Eye APC Governorship Ticket

News update A sociopolitical organisation, Democratic Network International, has expressed concern over the high number…

6 hours ago

Nigerian Actor Alex Ekubo dies at 40

News Update Famous Nollywood actor Alexx Ekubo has died. Family sources said he died on…

12 hours ago

Police Arrest Suspected Armed Robber, Recover Pistol

Operatives of the Ondo State Police Command have arrested a suspected armed robber operating in…

16 hours ago

Osun police warn against billboard vandalism

  ‎The Osun state Police command has condemned the recent acts of vandalism and destruction…

17 hours ago

Gunmen Abduct Businessman, Injure Child in Attack

Gunmen suspected to be kidnappers have abducted a businessman in Irawo, Atisbo Local Government Area…

18 hours ago

Kwankwaso Cries Out Over ‘No Reward’ After Backing Buhari

A chieftain of the Nigeria Democratic Congress, NDC, Rabiu Kwankwaso, has disclosed that he and…

19 hours ago