Nigerians Rush to NNPC Stations To Buy Cheap Fuel as Filling Stations Adjust Pump Prices
- More Nigerians are turning to NNPC fuel stations to buy fuel as filling stations around the country pumps
- Independent marketer's fuel stations in certain states are asking motorists to pay up to N937 per litre for petrol
- NNPC has blamed the fuel scarcity that has led to long queues nationwide on supply challenges, not availability
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian National Petroleum Company (NNPC) Limited filling stations are selling fuel at N568 per litre amid fuel scarcity.
This is in contrast to independent marketers' filling stations, which sell at between N750 and N950 per litre
Source: Getty Images
NNPC Retail Ltd has over 900 stations ranging from Affiliate Stations, Mega Stations, and Standard Stations to Leased Stations, Ultra-modern Stations, and Floating Stations.
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Checks by Legit.ng showed that most of the stations around Lagos state sell fuel at around N568 per litre to N620 per litre.
Chukwdji, a driver at one of the NNPC stations around Ejigbo, told Legit.ng:
"Yes we buy cheap at NNPC, but the problem is that the product is hardly available, and when it is, there are long queues, as observed right now.
"We spend hours waiting because most filling stations around are either shut or selling at prices above N700 to N750 per litre."
Why do independent stations sell above N700?
Chinedu Ukadike, public relations officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), blamed fuel prices at independent filling stations on the difficulties in lifting the product from the NNPCL.
Ukadike explained that retail prices at filling stations are high because independent marketers purchase the product from private depots at N780 per litre.
The NNPCL is the sole importer of petroleum products and manages the distribution of petrol products to oil marketers.
The chairman of IPMAN, Ore Depot, Shina Amoo, speaking on Channels TV on August 20, 2024, asserted that the NNPCL had distorted the distribution pattern, lamenting that its members have not been getting stock from the NNPCL.
According to Amoo, the little supply available is not well distributed by the NNPCL, noting that independent marketers currently get petrol at a premium price of N750 to N850 per litre from private depot owners.
Nigerians hope the situation improves and prices return to normal soon.
NNPC works to solve the fuel challenges
Legit.ng earlier reported that NNPC limited acknowledged the ongoing fuel scarcity and has called for Nigerians' patience as it works to address the causes.
The oil company explained that the scarcity is not due to product unavailability but rather logistical challenges and disruptions in the supply chain.
It stated that efforts are underway to resolve the issues and countered claims that it is paying subsidy.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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Source: Legit.ng
