YULETIDE: 25 Vessels Coming With Petroleum Products, As NNPC Denies Raising PMS Depot Price

Vessel laden with crude oil


Story By Roland Ekama.


The Nigerian National Petroleum Corporation (NNPC) has disclosed that a total of 25 ships laden with petroleum products are expected to berth at various jetties and terminals between December and January 2018 to further boost supplies nationwide.

The NNPC on Thursday also denied hiking depot price of Premium Motor Spirit (PMS), stating that the commodity is stilling selling at N133.28 per litre.

According to a statement by NNPC’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, the state oil company remains committed to ensuring constant supply of petroleum products across the country to aid hitch-free movement of motorists during and beyond the yuletide season.

The NNPC, therefore, urged members of the public not to entertain any fear or engage in panic buying of petroleum products as there was enough to keep the country well supplied.

He added  that ''25 vessels laden with petroleum products are also being expected to berth between now and January 2018 to further boost supplies."

The NNPC spokesperson  said  that the clarification and assurance became necessary against the backdrop of the threats made by the marketers who had issues with rival group.

NNPC disclosed that the rift was between IPMAN and depot owners, and that the appropriate government agencies have been contacted to settle the rift between IPMAN and the Depot and Petroleum Products Marketers Association (DAPPMA).

Ughamadu further added that the Ejigbo Satellite Depot was fully stocked and carrying out regular loading services, noting that there was enough petroleum products in the country to last till the end of the year.

"The Ejigbo Satellite Depot had consistently dispensed premium motor spirit (petrol) at the approved price of N133.28 per litre, contrary to allegations that it was sold at a higher price,” he said.

Recall that the Lagos State Chapter of the Independent Petroleum Marketers Association of Nigeria had threatened to withdraw its services in Lagos and environs over alleged discrepancies in ex-depot prices, among others.

IPMAN had in Lagos on Wednesday threatened to withdraw its services from December 11, accusing the NNPC of breach of its bulk purchase agreement to sell fuel to them at N133.28 per litre and over irregular fuel supply at Ejigbo satellite depot.

The association alleged that its members had been running their fuel stations at a loss in the last eight months due to NNPC’s default in the bulk purchase agreement it signed with IPMAN to sell fuel to its members at N133.28 per litre.