Petrol prices may drop as NNPCL agrees to deal directly with IPMAN

There is a ray of hope that the current petrol scarcity in the country may not only lessen, but the product become cheaper with the Nigerian National Petroleum Company Limited (NNPCL) saying it will deal with the Independent Petroleum Marketers Association of Nigeria (IPMAN).

Stakeholders in the downstream sub sector of the oil and gas industry recently met with different security agencies in a determined effort to resolve the problem.

Mike Osatuyi, IPMAN’s National Operations Controller, who confirmed the development also said the IPMAN, is not planning to shut down operations following Federal Governments announcement to enforce N195 a liter pump price for the product.
Under the agreement, Osatuyi said that members of the Association will begin to get supply from the direct the Nigeria National Petroleum Company Limited (NNPCL).

He said that going forward, the independent marketers, in breaking the festering scarcity, has received assurance of direct supply of petrol from the NNPCL.

The moves came on the heels of a critical meeting between NNPCL, Major Marketers Association of Nigeria, MOMAN, IPMAN, Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Department of State Services (DSS) amongst others.
The National Operations Controller, said that the NNPCL has agreed to sell petrol directly to IPMAN members at the regulated official price, rather than routing products through third parties, who had been severally fingered as being behind inflated wholesale supply prices.

Osatuyi said direct sale of products to independent marketers “will bring down the price of the product”, noting that direct sale of products to independent marketers will lead to immediate reversal of retail prices to regulated retail price.

He said: “I can tell you that the NNPCL have agreed to be giving IPMAN petrol directly and not through a third party.
“The Federal Government of Nigeria and the Inspector General of Police should call the federal task force on petroleum products to order as their recent actions is geared towards intimidation and exploitation.

“IPMAN will work with them in a peaceful and friendly atmosphere to fish out fraudulent members among IPMAN members that can be proven but not exploitative agenda.”

The IPMAN on Sunday debunked the insinuations that marketers are getting set to shut down operations beginning from Monday once the government starts the enforcement of N195/litre pump price.
Osatuyi said it became necessary to debunk the insinuation that IPMAN members planned to shut down their stations.