NNPC Increases Petrol Price, Asks Marketers To Top Up Payment
- The NNPC has asked marketers to top up payments in line with new petrol prices or request refunds
- Independent marketers urge NNPC to clear backlog of loading tickets, saying members’ funds remain trapped in its portal
- The Dangote refinery is already offering alternative to marketers and urged more to register for free delivery
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Nigerian National Petroleum Company Limited (NNPC) has directed petroleum marketers who purchased fuel through its online portal to top up payment.
The national oil company said the additional payment is to cover for new petrol prices or they will risk losing them.
Source: Getty Images
Punch reports that spokesman Andy Odeh said marketers who cannot meet the new ex-depot rates can also request refunds instead.
Odeh said:
“Where payments have been made and there is a subsequent price adjustment before loading takes place, marketers are required to either pay the difference before lifting their products or, if they prefer, request a refund.
“NNPC can confirm that it has received refund requests from some marketers, and in line with our contractual obligations, those requests are currently being processed.”
Odeh clarified that the fund’s management falls under the Nigerian Midstream and Downstream Petroleum Regulatory Authority, not NNPC.
IPMAN says funds are trapped
The Independent Petroleum Marketers Association of Nigeria (IPMAN) had earlier urged NNPC’s Group Chief Executive Officer, Bayo Ojulari, to clear a backlog of loading tickets held in the company’s portal.
The call was made by IPMAN Publicity Secretary Chinedu Ukadike who revealed that many members had paid for products but were unable to lift them.
Ukadike said:
“We, the independent marketers, have been calling on NNPC to reimburse us for our money or give us products from some of our tickets that are being tied down in their system.
“Though they have started, it is not in full force. We are appealing to the GCEO to look at some of the outstanding tickets and clear them.”
Source: Getty Images
He declined to state the exact number of tickets or financial value involved but described the amount as “sizable.”
The appeal comes months after IPMAN members staged protests over diesel price hikes at the Port Harcourt refinery, alleging depot officials increased prices after payments had already been made.
Marketers also say they are still owed about 25 billion naira ($16 million) in outstanding petroleum equalisation funds, a scheme designed to ensure uniform pump prices nationwide.
NNPC looks to revive PH refinery
Earlier, Legit.ng reported that the Nigerian downstream petroleum industry is set for another shakeup as the Nigerian National Petroleum Company Limited (NNPC) has commenced repair works on the Port Harcourt Refinery.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) disclosed that the NNPC has commenced the process of revamping the Port Harcourt Refinery via an assessment of the plant by a possible private firm under the Technical and Equity (T&E) partnership scheme.
The move was seen as a direct challenge to Aliko Dangote’s refinery dominance, just weeks after the billionaire cast doubt on its functionality.
Source: Legit.ng
