IPMAN: NNPCL putting us in difficult situation, another fuel scarcity likely

Oct. 11, 2024 - Daily Trust

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned of a looming fuel scarcity in the country following increasing cost of petroleum product. The situation has been attributed to the brewing disagreement IPMAN members and management of the Nigeria National Petroleum Company Limited (NNPCL).

The IPMAN spokesperson, who said that NNPCL wants to sell at N1,010 to marketers, added that the price is even higher than what it sells at its outlets. NNPCL is the sole off taker from Dangote oil refinery and the amount the NNPCL wants to sell to us is too high.

While lamenting the situation, the IPMAN spokesperson said that marketers take loans for business in banks, adding that the loans attract high interest rates...