The Nigerian National Petroleum Company Limited – NNPCL has announced the sale of petrol to the Independent Petroleum Marketers Association of Nigeria – IPMAN at a price of 995 Naira per litre.

The decision followed the intervention of the Department of State Services (DSS) in the ongoing dispute between the two parties. The National Vice President of IPMAN, HAMMED FASHOLA, confirmed that the DSS’s involvement helped resolve several issues affecting marketers.

He stated that the Nigerian Midstream and Downstream Petroleum Regulatory Authority agreed to pay the association’s outstanding 10 billion naira and addressed concerns regarding the direct purchase of petrol from Dangote Refinery.

FASHOLA added that the new ex-depot price of 995 naira would allow IPMAN members to sell petrol at rates more competitive with major marketers, although transportation costs could still influence local prices.