NNPC slashes petrol price for marketers to ease scarcity

The menace of fuel scarcity may disappear very soon as the Nigerian National Petroleum Company Limited (NNPCL) has agreed to slash the lifting price of petrol to N148 per litre.

Marketers can now lift the produce at N148 per litre from the depots for distribution accross the country.

This resolution was reached in a meeting held between NNPCL, marketers and all the stakeholders on Tuesday.

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

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.

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.”