Marketers Hold NNPC And DAPPMA Responsible For Fuel Scarcity

Marketers Hold NNPC And DAPPMA Responsible For Fuel Scarcity....KINDLY READ THE FULL STORY HERE▶

Petroleum marketers have attributed the current fuel scarcity to alleged dubious dealings between the Nigerian National Petroleum Company Limited (NNPCL), the Depots and Petroleum Products Marketers Association of Nigeria (DAPPMA), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)……… CONTINUE READING 

The marketers claim that these dealings, involving NNPC, tank farm owners, and NMDPRA, are detrimental to product availability and efficient distribution to retail outlets. They are calling on President Bola Tinubu to intervene urgently.

According to anonymous sources, NNPCL, as the sole importer, supplies petrol to private depot owners under DAPPMA at a depot price of ₦556.50 per liter. However, these depot owners are reportedly selling the petrol to marketers at prices ranging from ₦700 to ₦740 per liter, significantly reducing the profit margin for retail sales.

One marketer stated, “Previously, NNPCL allocated products to independent marketers through a reasonable pricing arrangement with private depot owners. Now, independent marketers are left without allocations and are at the mercy of these depot owners. The absence of a fixed ex-depot price is harming the industry.”

The marketer continued, “Private depot owners are now selling at ₦800 per liter to us, who then sell to the public. We are being wrongly accused of hoarding and overpricing, while the regulatory agency fails to address the issues caused by these tank farm owners. President Tinubu must address this issue and break up the cabal profiting at the expense of Nigerians.

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