• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 2, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

 Marketers Move To End NNPCL Petrol Import Monopoly

by Chika Izuora
2 years ago
in Business, Cover Stories, News
Petrol
Share on WhatsAppShare on FacebookShare on XTelegram
Key players in the country’s downstream sub-sector of the oil and gas industry are seeking access to foreign exchange at a rate that will be friendly to their bottom-line. They also expressed concerns over what they described as haphazard implementation of the Petroleum Industry Act (PIA), especially, with regard to the withdrawal of petrol subsidy.

The marketers have accused the Nigerian National Petroleum Company Limited (NNPCL) of tactically retaining monopoly of products importation to swing the market to its benefit.

Advertisement

To avert what may lead to another round of scarcity across the country, LEADERSHIP gathered that stakeholders in the industry are gathering in Abuja today to engage the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA to seek proper interpretation of licence issuance with regard to product import.

An impeccable industry source, who confided in our Correspondent, said the situation may lead to marketers rejecting NNPCL products if government refuses to fully liberate the market.

“If the PIA seeks to fully deregulate the market, then it would be ready to allow competition and create a level playing field. What we are asking is that government should not allow NNPCL to access foreign exchange at official exchange rate and expect independent or major marketers to source forex from the parallel market.

“Again, the issuance of import licence should not be the responsibility of the NNPCL, but the NMDPRA, whose responsibility it is to create all the needed opportunities for the market to thrive,” our source said.

RELATED

Residents Applaud Mbah, Police Intervention In Enugu Community Killing

Police Nab 6 Suspected Notorious Gang Members, Recover Arms In Lagos

2 hours ago
Inmates Of Delta Correctional Centres Cleared To Write WAEC

Late Exams: Reps Gives WAEC 24 Hours To Submit Guidelines, Report

2 hours ago

Our source said the emergency gathering in Abuja will determine where the market will swing in the next few days.

The source said if marketers are denied forex and they discover that NNPCL products are higher than what it is signifying, then they will have no option but to reject the products.

The implication would be scarcity which will defeat the aim of the Act.

LEADERSHIP reports that, recently, President Bola Tinubu met with marketers in Abuja to discuss modalities for addressing challenges posed by the subsidy removal.

Addressing newsmen after the meeting, Mrs. Winifred Akpani, chairman of Depot and Petroleum Marketers Association of Nigeria (DAPPMAN), said the courtesy visit was to express the major oil marketers’ utmost support to the federal government.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

Breaking NEWS: Nigerians can now earn in US Dollars, acquire ultra premium domains for low and sell for super profit. Our client acquired a domain for $3715 and got it sold for $42,000. Click here to see how you too can profit from the business.


Tags: CompetitionDownstream sub-sectorForeign ExchangeLevel playing fieldMarket liberalizationMarket manipulationNigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)Nigerian National Petroleum Company Limited (NNPCL)Oil and gas industryPetrol SubsidyPetroleum Industry Act (PIA)Products importationScarcity concerns
SendShareTweetShare
Previous Post

ThriveAgric Produces 1.5m Metric Tonnes Of Grains In 1 Year

Next Post

Peak 456 Educates On Age-appropriate Nutrition

Chika Izuora

Chika Izuora

You May Like

Residents Applaud Mbah, Police Intervention In Enugu Community Killing
News

Police Nab 6 Suspected Notorious Gang Members, Recover Arms In Lagos

2025/06/02
Inmates Of Delta Correctional Centres Cleared To Write WAEC
News

Late Exams: Reps Gives WAEC 24 Hours To Submit Guidelines, Report

2025/06/02
Kogi Govt Accuses EFCC Of Fresh Media Trial
News

EFCC Re-arraigns Alleged Cybercrime, Terrorism Kingpin

2025/06/02
Empowering First-Time Homebuyers Through Policy And Education
Business

Empowering First-Time Homebuyers Through Policy And Education

2025/06/02
125 Worshippers Buried In Yobe
News

Eid-el-Kabir: Yobe Gov’t Shuts Schools For 10 Days

2025/06/02
FRSC Conducts ‘Operation Show Your Driver’s Licence’ In Rivers
News

FRSC Begins Probe Of Kano Athletes’ Accident

2025/06/02
Leadership Conference advertisement

LATEST

Police Nab 6 Suspected Notorious Gang Members, Recover Arms In Lagos

Late Exams: Reps Gives WAEC 24 Hours To Submit Guidelines, Report

EFCC Re-arraigns Alleged Cybercrime, Terrorism Kingpin

Empowering First-Time Homebuyers Through Policy And Education

Eid-el-Kabir: Yobe Gov’t Shuts Schools For 10 Days

FRSC Begins Probe Of Kano Athletes’ Accident

WBFA, Reckitt Nigeria Organise Hygiene Workshop, Induct Student Ambassadors

Sustainable Nigeria: Academy Urges Dialogue On startup Policy Hurdles

FERMA Needs N880bn Yearly For Road Maintenance — Minister

Sarri Rejoins Lazio As Head Coach For Second Spell

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.