The price of petrol in Nigeria has plummeted from N640 per litre to N630 per litre, sparking tears of joy across the nation. The Nigerian National Petroleum Company Limited (NNPCL) took the bold step of supplying one per cent of the product directly to independent marketers, marking a significant shift in the country’s fuel distribution landscape.<\/p>\n
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The positive response from the market was immediate as private depots received assurance from NNPCL regarding direct supply to independent marketers. Alhaji Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed this transformative move, emphasizing the impact it has already begun to make.<\/p>\n
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NNPCL’s Executive Vice President, Downstream, Dapc Segun, assured marketers of direct product allocation under the Product Finance Initiative Allocation (PFIA), signaling a departure from the traditional reliance on private depots. Maigandi highlighted the importance of this shift, noting that even the one per cent allocation has begun to alter market dynamics significantly.<\/p>\n
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The reduction in depot prices, previously at N640 per litre, to N630 per litre further underscores the positive ripple effect of NNPCL’s initiative. With NNPCL selling petrol at N570 per litre, independent marketers now have a more competitive edge, reducing their reliance on private depots with limited retail outlets.<\/p>\n
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This development signals hope for consumers and stakeholders alike, as the direct supply to independent marketers promises to enhance accessibility, affordability, and stability in the petrol market. As Nigeria navigates its energy landscape, this shift marks a pivotal moment towards a more efficient and transparent fuel distribution system.<\/p>\n","protected":false},"excerpt":{"rendered":"
The price of petrol in Nigeria has plummeted from N640 per litre to N630 per litre, sparking tears of joy across the nation. The Nigerian National Petroleum Company Limited (NNPCL) took the bold step of supplying one per cent of the product directly to independent marketers, marking a significant shift in the country’s fuel distribution […]<\/p>\n","protected":false},"author":14,"featured_media":24696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-24694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/24694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=24694"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/24694\/revisions"}],"predecessor-version":[{"id":24697,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/24694\/revisions\/24697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/24696"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=24694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=24694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=24694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}