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NNPCL Issues Directive to Marketers on New Fuel Price Regime
The Nigerian National Petroleum Company Limited has issued a fresh circular to oil marketers on how much they will pay to get petroleum products.
This came about two weeks after the Federal Government announced the removal of fuel subsidy.
NNPCL Retail, in a circular released on Sunday, and obtained by The PUNCH, directed marketers to consider merging their old orders which carry the old fuel price in order to buy a truck of 45 million litres of petrol.
Marketers, according to The Punch, had before the deregulation ordered one truck of petrol for about N7.7m.
However, the new circular by the company advised marketers who had probably ordered three trucks at N7.5m (N171/litre old price), to merge their orders or ask for a refund.
“Following the full deregulation of PMS, NNPC Retail has made the following options available to help customers manage the impact of the additional cash flow requirement: Marketers now have the option of consolidating pre-paid self-owned tickets for fresh tickets in line with the revised price. Interested marketers can engage their respective NRL Depot Representative for guidance on how to initiate this option.
“Also, there is an option for cash refund. Marketers who are interested in initiating this option should send in official request addressed to the MD NNPC Retail. The request should include evidence of payment and order details (RRR number, Sales quotation number and Meter ticket number). Upon receipt of official request together with the above supporting documents, your refund request will be made processed,” the memo from NNPCL Retail read in part.
Oil marketers on Monday confirmed the development to The PUNCH.
The Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, confirmed the development. He however said it might be difficult for some marketers to raise such huge funds required to place an order for petroleum products.
“Where do you want us to get such money from?” Osatuy asked.
“The price difference is huge and most can’t afford it. So what we will start seeing is that instead of ordering for one truck, marketers can now go for maybe a quarter or half truck just like it’s being done for diesel,” he said.
“Since NNPC said we consume 66 million litres daily, we are sure that it would drop to as low as 30 million litres soon,” Osatuyi said, corroborating what a former Chairman of the Major Oil Marketers Association of Nigeria, and Chief Executive Officer, 11 Plc, Tunji Oyebanji, had told The PUNCH last week.
According to Oyebanji, ending fuel subsidies will stop smuggling and bring to bear Nigeria’s true daily petrol consumption.
Oyebanji also said an increase in fuel price by the NNPCL would see smaller downstream companies folding up, and being acquired by bigger companies
“Removing petrol subsidies is one of the best decisions Nigeria would ever make because smuggling would stop. This is the time we will know the real petrol consumption of Nigeria, likewise, many smaller stations will fold up and would get acquired by bigger ones” Oyabanji said.
The Punch
Source: Reuters
Arise Television anchor, Rufai Oseni, has alleged that there may be attempts to prevent key opposition figures, including Peter Obi and Atiku Abubakar, from appearing on the ballot for the 2027 general elections.
Oseni’s remark followed a Federal High Court judgment ordering the de-registration of some political parties.
Justice Peter Lifu of the Federal High Court in Abuja, on Monday, ordered the Independent National Electoral Commission (INEC) to deregister the African Democratic Congress (ADC), Accord Party (AP), Action Peoples’ Party (APP), Zenith Labour Party (ZLP), and Action Alliance Party (AAP) over alleged constitutional breaches.
The judgment arose from a lawsuit filed by the Incorporated Trustees of the National Forum of Former Legislators (NFFL), which argued that the affected parties failed to meet constitutional and statutory electoral performance requirements necessary for continued recognition as political parties.
Justice Lifu subsequently barred INEC from recognising the affected parties, accepting nominations from them or permitting them to participate in activities related to the 2027 general elections.
The ruling, if upheld, could affect the political ambitions of several politicians, including former Vice President Atiku Abubakar, who is the ADC presidential flag-bearer, and Osun State governor Ademola Adeleke, who is seeking re-election on the platform of the Accord Party.
But speaking on Arise TV’s Morning Show on Tuesday, Oseni described the court ruling as a “test” of public reaction, warning that more actions could follow ahead of the next general election.
According to him, opposition parties such as the African Democratic Congress, ADC, and the Nigeria Democratic Congress, NDC, should be cautious, claiming that efforts could be made to stop major figures from participating in the election.
Oseni argued that the judgment was part of a broader process aimed at shaping the political landscape ahead of 2027.
He maintained that the ruling came despite some of the affected parties having recorded electoral victories in recent elections.
He warned that Nigerians must remain vigilant to safeguard the country’s democracy, stressing the need for judicial reforms alongside efforts to tackle insecurity.
Oseni said: “NDC, ADC should be careful because there will be attempt, and this is me predicting now, to ensure that Obi, Atiku and other big contenders are not on the ballot.
“This that you saw yesterday is just a test. This is not the real place where the whole thing is going. This is me predicting now.
“You know before you have a show you test the microphone. They want to see the reactions of Nigerians. More is still coming.
“You can see how they carry a judgement when ADC won two House of Representatives seats in Kogi, one Kogi House of Assembly seat, APP one chairmanship seat in Jigawa, Zenith Labour party won several seats in Abia, but they still went ahead and issued judgement for deregistration after the Court of Appeal, a higher court, said it should stay on that.
“If we want to deal with this judicial rascality, can I tell you something? The judge that gave this judgment, nothing will happen to him. Nothing on this earth. They are just coming.
“And who is leading this group? Gbajabiamila. Have you forgotten what Gbajabiamila said on Hon Ajibade’s birthday? So they are just coming. This one is just a test. The next one they will do is the NDC.
“With the way they’re going, if Nigerians don’t shine their eyes when they will finally have this election, you will not have the major contenders in the ballot. This thing they have just done is to test reactions from Nigerians.
“I saw this thing coming. You know we are going into an election in which Atiku Abubakar is the only major candidate from the North. It’s not like the last one you have Kwankwaso that can split the Kano votes. And you have Peter Obi and general consensus that a lot of people are in abject penury, insecurity is raging hard.
“This is the beginning of many things. They are just testing the microphone. It’s engineered. More is coming. Nigerians, it is you that will save your democracy. Judicial reforms have become so important as insecurity in Nigeria.”
The African Democratic Congress (ADC) presidential candidate, former Vice President Atiku Abubakar, has picked former Rivers State Governor and former Minister of Transportation, Rotimi Amaechi, as his running mate.
Announcing the decision, ADC National Publicity Secretary, Bolaji Abdullahi, said Amaechi’s emergence followed broad consultations within the party and reflected his strong performance as runner-up in the party’s presidential primaries as well as his track records of service to his state and the country.
According to the ADC, Amaechi’s extensive experience across both the legislative and executive arms of government, as former Speaker of the Rivers State House of Assembly, two-term Governor of Rivers State, and former Minister of Transportation, makes him uniquely qualified to complement Atiku’s leadership, strengthen the party’s national appeal, and bolster its campaign to offer Nigerians an experienced and credible alternative ahead of the 2027 presidential election.
The party said the choice of Amaechi underscores its commitment to presenting a leadership team with proven governance experience and national appeal as it prepares for the 2027 presidential contest.
ThisDay
