By: Chioma Madonna Ndukwu
The Nigerian National Petroleum Company Limited (NNPCL) has reduced petrol prices for the Independent Petroleum Marketers Association of Nigeria (IPMAN) following mediation by the Department of State Services (DSS). IPMAN’s spokesperson, Chinedu Ukadike, announced that the DSS facilitated discussions with NNPCL officials, addressing pricing and supply issues.
The agreement allows IPMAN to purchase Premium Motor Spirit (PMS) at lower rates and includes commitments from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for import licenses and settling outstanding payments. This resolution comes after IPMAN threatened to halt operations due to high loading costs and pricing discrepancies with NNPCL.
Source: Daily Gist
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