The Director General of the Department of State Services, Adeola Ajayi, addressed the grievances of Nigeria’s oil marketers regarding rising petrol prices and outstanding debts owed to them.
This meeting followed a significant increase in the price of Premium Motor Spirit (PMS), which reached N1,030 per liter due to the Nigerian National Petroleum Company Limited’s (NNPC) adjustments.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria, provided insights into the discussions held.
He noted that the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, agreed to issue bulk purchase licenses to the marketers, allowing them to procure petrol directly from Dangote Refinery.
Additionally, the NMDPRA committed to releasing N10 billion to settle outstanding debts owed to the marketers.
Ukadike stated that the DSS’s involvement was crucial in addressing the marketers’ concerns over high petrol prices and financial challenges within the oil and gas sector.
He encouraged members to continue their operations while the situation is being resolved.
The backdrop of this intervention comes after the marketers threatened to halt operations due to the ex-depot price set by NNPC, which they deemed unmanageable compared to retail prices.
Furthermore, the marketers raised concerns about NNPC’s debt of over N15 billion owed to them.
The situation has intensified since Dangote Refinery commenced petrol distribution with NNPCL as its primary off-taker on September 15, 2024.
