The Nigerian National Petroleum Company Limited (NNPC) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached an agreement on the price of Premium Motor Spirit (PMS), commonly known as petrol. The Department of State Services (DSS) broke the deal following a dispute between the two parties.
According to the National Vice President of IPMAN, Hammed Fashola, the NNPC has agreed to sell petrol to IPMAN members at N995 per liter. This is a significant reduction from the previous price, which had led to widespread protests and fuel shortages across the country.
"We really appreciate the intervention of the DSS," Fashola said. "They brokered peace and understanding between the parties, and everyone agreed to work together."
However, Fashola noted that the pump price at filling stations may still vary due to transportation costs and other factors. He emphasized the importance of establishing a uniform price across the country.
The agreement between the NNPC and IPMAN comes amid ongoing controversies surrounding the pricing of petrol in Nigeria. IPMAN had previously accused the NNPC of selling petrol to them at a higher price than it purchases from the Dangote Refinery.
The DSS's intervention has helped to resolve these issues and pave the way for a more stable fuel supply in the country. The agreement is expected to alleviate the burden on consumers and reduce the risk of fuel shortages.
