By Yemi Akinsuyi
The Department of State Services (DSS) has intervened to resolve the dispute between the Nigerian National Petroleum Company Limited (NNPCL) and oil marketers, resulting in a mutually beneficial agreement.
This is following a peace meeting facilitated by DSS Director General Adeola Ajayi, NNPCL will settle the N15 billion debt owed to marketers through product loading.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, IPMAN National Publicity Secretary, Chinedu Ukadike confirmed the agreement, stating that NNPCL agreed to price reductions and immediate loading of N15 billion worth of tickets.
Ukadike said NNPCL has approved the sale of petrol to Independent Petroleum Marketers Association of Nigeria members from its depot at a reduced price.
He added that the Nigerian Midstream and Downstream Petroleum Regulatory Authority will grant import and off-taker licenses to oil dealers, enabling direct fuel importation or acquisition from the Dangote Refinery, aligning with the government’s deregulation strategy.
