ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, September 19, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NNPC, Marketers Deny Clash Over Fuel Pump Price

by Nse Anthony - Uko and Chika Izuora
2 years ago
in Cover Stories
NNPC
Share on WhatsAppShare on FacebookShare on XTelegram

Key petroleum products marketers have denied having any disputes with the Nigerian National Petroleum Company (NNPC) Limited over a possible pump price adjustment of Premium Motor Spirit (PMS), popularly called petrol.

Advertisement

The NNPC similarly denied having any disagreement with independent petroleum marketers on the matter and on alleged subsidy on PMS.

The national oil company also assured Nigerians that there is no plan to increase the pump price of petrol, and urged motorists nationwide not to engage in panic buying, as there is presently ample availability of PMS across the country.

The assurances and denials are contained in a statement signed by the national oil company’s spokesman, Olufemi Soneye, yesterday.

The clarifications followed reports that fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) had clashed with the NNPC Ltd over the payment of subsidy.

Related News

Federal Government, States, Others Share N2.225trn August Revenue

23 hours ago

Bandits Demand Schools, Hospitals, Grazing Reserve – Katsina Government

23 hours ago

However, in a terse statement yesterday, NNPC spokesman, Olufemi Soneye, insisted that subsidy had been entirely removed on petrol.

The Nigerian National Petroleum Company (NNPC) Limited has denied that it had a dispute with independent petroleum marketers over an alleged subsidy on Premium Motor Spirit (PMS).

A newspaper report (not LEADERSHIP) had claimed that fuel marketers under the aegis of IPMAN had clashed with the NNPC Ltd. over the payment or non-payment of petrol subsidy by the federal government.

However, reacting to the story yesterday, Soneye said subsidy had been entirely removed on petrol.

“NNPC Ltd emphasises it has not clashed with any party,” Soneye said, adding that the publication’s headline was unfortunate.

“The publication sought confirmation on alleged subsidy reduction, to which NNPC responded that subsidy has been entirely removed.”

Both IPMAN and the Petroleum Products Retail Outlets Owners (PETROAN), in different conversations with the LEADERSHIP, denied any form of disagreement with the oil company.

National president of IPMAN, Elder Chinedu Okoronkwo, in a telephone conversation said his group had not engaged the NNPCL in any discussion, either on petrol subsidy removal or price adjustment.

Okoronkwo said the supply mechanism as established since last year had been in place and that groups speculating such disputes were not key marketers with substantial market share and as such should not agitate the public with unfounded rumours.

The Petroleum Products Retail Outlets Owners (PETROAN) on its part said that petroleum products supply by the NNPCL is currently sustainable and that sales margins being offered gives marketers some level of revenue recovery

The group, with over 19,000 members, said it had proposed a meeting with the NNPCL to discuss operational modalities that will govern the downstream sector in the new year.

The national president of the PETROAN, Dr. Billy Gillis-Harry, while speaking with our correspondent on the news report of marketers’ planned hike of petrol due to uncleared issues surrounding petrol subsidy removal by the federal government, said the group was working with the NNPC on current supply figures.

Gillis-Harry said at no point did marketers disagree with the NNPCL on price increase because the market supply system had not been altered.

“Some people would argue that there is no subsidy removal, or there is partial removal, but there is no empirical evidence to accept that analysis. The NNPC has assured of sustainable supply to marketers and that has not been breached.

“The price NNPCL is selling to marketers provides a recovery option but what is there is that overhead cost and cost of transportation is eating up our earnings.

“Today our members sell between N620, N640 and a little above due to supply locations,” he explained.

According to the PETROAN president, while the NNPC is selling to marketers, there is a little disparity at depots operated by marketers.

However, he said NNPC had not reneged in its supply arrangements and it had ensured marketers are not pushed to sell above any threshold.

He said marketers are not privy to any subsidy removal, and that the NNPCL, which is marketers’ principal suppliers, had maintained that it is recovering cost of supply at prevailing market prices.

“There may be some kind of mathematical or economic computation between the government and NNPC but all parties are not reporting losses in the name of subsidy policy,” he said.

According to him, the proposed meeting it had initiated was to talk about reassurances of sustainable market supply, adding the group was not in disagreement with the NNPCL.

He, however, urged that the federal government initiate consistent stakeholders’ meetings to share insights into market operations and possible policy changes.

Join Our WhatsApp Channel

Tags: Nigerian National Petroleum Company (NNPC)
SendShare10213Tweet6383Share

Other News Updates

Cover Stories

Federal Government, States, Others Share N2.225trn August Revenue

2025/09/18
Cover Stories

Bandits Demand Schools, Hospitals, Grazing Reserve – Katsina Government

2025/09/18
Cover Stories

Reactions As Tinubu Ends Emergency Rule In Rivers

2025/09/18
Cover Stories

BREAKING: Tinubu Lifts State Of Emergency On Rivers, Restores Democratic Rule

2025/09/17
Cover Stories

12 Banks Clear Recapitalisation Hurdle Ahead Of March 31 Deadline

2025/09/17
Cover Stories

Reactions Trail JT Useni’s London Property Controversy

2025/09/17
Leadership Conference advertisement

LATEST

Haaland Scores Landmark Goal As City Beat 10-man Napoli In Champions League

Rashford Scores Twice As Barca Beat Newcastle In Champions League Opener

Court Martial Sentences Soldier To Death For Murder

2025 Budget: N’Assembly Seeks Withdrawal Of Contract Circulars

Fubara’s Whereabout Unknown Day After Reinstatement

Wike Defends Midnight Meeting With Fubara Over Rivers Election

Emergencies: ONSA Leads Simulation Exercise To Test National Response Preparedness

Wike Assures Of Non-interference In Fubara’s Choice Of Cabinet

Kwara Government Relocates NYSC Camp Over Insecurity

Sports Reform At Heart Of Nigeria’s 2030 Games Bid ¬— Presidency

© 2025 Leadership Media Group - All Rights Reserved.

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

© 2025 Leadership Media Group - All Rights Reserved.