Filling Station Owners Move to Crash Petrol Prices, Send Proposal to NNPC on Product Lifting
- Mega filling station owners have asked the NNPC to partner with them to provide petrol to the 774 local councils in Nigeria
- The Association of Mega Filling Station Owners (AMFSON) proposed the deal to the NNPC in a statement
- The association said it has the presence and infrastructure to move petroleum products to all nooks and crannies of Nigeria
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Association of Mega Filling Station Owners of Nigeria (AMFSON) has asked for a stronger partnership between the body and the Nigerian National Petroleum Company Limited (NNPC).
The association boasted it has the ability to move fuel to the 774 local government headquarters in Nigeria at a cheaper rate to provide the product to Nigerians at the grassroots.
Source: Getty Images
AMFSON moves to crash petrol prices
The association disclosed this in a statement made available to journalists in Kaduna on Monday, September 30, 2024. The statement was signed by Davidson Ukatta, AMFSON's president, during a meeting involving members of the association.
Ukatta said filling stations owned by AMFSON members are available in all the local government councils in Nigeria, making petroleum products cheaper for Nigerians.
The statement said the NNPC management and key stakeholders in the downstream petroleum sector need to join the association as partners in progress in the search to deliver products to Nigerians cheaply.
Punch reports that the statement says that AMFSON is structured to help provide petroleum products to Nigerians, and its members are in all 774 local councils in the 36 states of Nigeria.
The group said that while the NNPC filling stations are sited in state capitals, AMFSON outlets are in multiple numbers in all the local government councils.
The association also said it is the only body that can help NNPC drive the policy behind the establishment of NNPC Retail Limited.
Marketers move to purchase petrol from Dangote refinery
The development comes as oil marketers in Nigeria are making moves to buy petrol directly from Dangote Refinery.
The marketers cited the difference between the Dangote petrol price and imported PMS for their action.
While the Dangote Refinery can supply much of Nigeria’s domestic petrol needs, the government strictly controls pricing via the Nigerian National Petroleum Company Limited (NNPC), creating a significant hurdle for marketers.
Also, On Thursday, September 26, 2024, the House of Representatives asked the Nigerian government to direct the Nigerian National Petroleum Company Limited (NNPC) and the Dangote Refinery to allow independent marketers to begin product lifting from the newly built Dangote Refinery.
The Reps resolved following adopting a motion of urgent public importance sponsored by the member representing Yenogoa/Opokuma Federal Constituency, Bayelsa, Oboku Oforji.
Filling stations to adjust prices as landing cost crashes
Legit.ng earlier reported that data released by the Major Energies Marketers Association of Nigeria (MEMAN) showed that the landing cost of petrol had dropped to N981 per litre.
The petrol landing cost was around N1,130 per litre in the previous weeks and dropped by over N140 as of September 25, 2024, caused by the decline in international crude oil prices.
Crude prices and foreign exchange rates are significant factors determining the cost of refined petroleum products, including diesel, aviation, and kerosene.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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