URBANEXPRESSLIVEURBANEXPRESSLIVEURBANEXPRESSLIVE
  • Home
  • Politics
    Politics
    “Followers who tell the truth, and leaders who listen to it, are an unbeatable combination.”— Warren Bennis
    Show More
    Top News
    My Ambition Not Worth the Killing of Any Nigerian-Ofred
    February 28, 2025
    Why US Speaker Reveals Guest List On Trump’s Tuesday Night Address
    March 4, 2025
    Former INEC Chairman, Jega, Gets Tinubu’s Appointment  As Adviser of Livestock Reform
    March 8, 2025
    Latest News
    It may be of Significance retaining His Lagacy’-Oshiomhole Advises Jonathan Over Speculative 2027 Ambition
    October 6, 2025
    He Never Complained of Inheriting Challenges- UN Deputy Sec Gen, Amina Mohammed, On Tinubu
    October 5, 2025
    Not Quicksand, We’re Building Nigeria’s Economy On Concrete-Tinubu
    October 1, 2025
    While Bandits Take Over Kwara, Onanuga is Busy Attacking Jonathan-Rufai Oseni
    September 30, 2025
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
    • About Us
    • Contact us
    • Advertise
Search
  • Advertise
© 2024 Urbanexpresslive. All Rights Reserved.
Reading: Shutdown of NNPC Portal Causing Delay of Petrol Supply-Marketers
Share
Notification Show More
Font ResizerAa
URBANEXPRESSLIVEURBANEXPRESSLIVE
Font ResizerAa
  • Home
  • Politics
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
Search
  • Home
  • Politics
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
    • About Us
    • Contact us
    • Advertise
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
URBANEXPRESSLIVE > web-Page > Business > Shutdown of NNPC Portal Causing Delay of Petrol Supply-Marketers
BusinessTechnology

Shutdown of NNPC Portal Causing Delay of Petrol Supply-Marketers

urbanexpresslive
Last updated: October 3, 2024 5:38 am
urbanexpresslive
Share
5 Min Read
SHARE

Taiwo Popoola

Oil marketers have said that the Nigerian National Petroleum Company Limited portal used to purchase petrol has been shut against dealers, making it impossible for them to apply for the commodity purchase.

They said marketers are still awaiting over 90 million litres of petrol from the state-owned company. This is valued at about N79bn.

Urban Express News Online recalls that amid marketers’ complaints over their inability to order petrol, the NNPC confirmed the shutdown of its purchasing portal to our correspondent last month, giving its reasons.

According to NNPC spokesperson, Olufemi Soneye, the company shut the Portal due to a significant Backlog

Making Found Me – Lady Cobbler

0:00 / 0:00

Soneye explained that the shutdown became necessary to stop NNPC from holding marketers’ capital for too long.

“We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period,” Soneye had explained.

He, however, assured marketers that the portal would be reopened after the backlog had been reduced.

“It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible,” he told our correspondent.

In an interview With Urban Express News Online, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the association is still waiting for the portal’s opening.

“They are on it, our marketers are still loading petrol from the NNPC. I can’t confirm the price now because the portal is still shut down.

“We have more than 2,000 tickets for 45,000 litres (of petrol). That is 45,000 multiplied by 2,000, you can now know the number of million litres it will be. This is just an estimate, you know I don’t work with NNPC and I don’t know what is on their system,” Ukadike stated.

He disclosed that a 45,000-litre truckload of PMS is around N39.5m, making N79bn when multiplied by 2,000.

The Petroleum Retail Outlets Owners Association of Nigeria also confirmed that its members could not access the NNPC purchasing portal.

PETROAN President, Billy Gillis-Harry, confirmed this in a phone conversation with our correspondent.

“The portal shutdown affects us too, we are all buying from NNPC,” he said briefly.

Meanwhile, the marketers noted that they have since been patronizing private depot owners, who sell petrol to them at a premium.

This, they said, informed why the product is more expensive in their filling stations than in outlets owned by the NNPC and the major marketers.

Our correspondent gathered that the marketers usually bid for PMS through the NNPC portal.

According to them, payments will be made through the same channel while the marketer waits for months to get the product.

Independent marketers told journalists that they paid for petrol but were not supplied after three months.

During an interview with News men in January, the National Vice President of IPMAN, Hammed Fashola, made a similar allegation which was denied by Soneye.

Fashola had asked the Federal Government to review the current distribution pattern to give priority to IPMAN members.

Fashola said, “We buy products from NNPC cash and carry. We don’t enjoy any credit facility with the NNPC. There are times when we pay for products, and you don’t get the products for two or three months. You have your money in the coffers of NNPC, which means they are trading with our money.

“If I am not exaggerating, we should be talking of over N300bn, when you consider the number of marketers all over Nigeria. Our money is always there, trapped, while we keep struggling to get fuel. The three days will turn into months if they don’t have products or they are out of stock, you have to wait, and your money will be there.”

At the moment, the marketers said they want to buy petrol directly from Dangote to ensure price parity.

You Might Also Like

Customs: We’ve Increased Revenue By 90.4%, Now 16.1trn In 2024-CG Adeniyi

How Nigeria Spent N6.2tn, N4.5tn On FX Fuel Subsidies In 2022-CBN

Plead with States to Waive Right of Way Charges On Telecoms Infrastructure NIPPS Tell Tinubu

TCN Gives Update On Akwa Ibom Outage, Gives Reason

FX Supply Rises As Naira Appreciates Significantly Against Dollar

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article How Estate Agent In Lagos Was Arraigned For Allegedly Defrauding Client N13M
Next Article Reform: Right Group Gives Kudos To FG On NCoS
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
4.4kFollowersFollow
- Advertisement -
Ad imageAd image

Latest News

2026 WCQ: Sales of Tickets Begin in Lesotho As Preparation For Super Eagles Begins
Uncategorized October 8, 2025
EPL:  They’ll Defeat Them-Paul Scholes Predicts Winner of Liverpool Vs Man Utd
Urban Sports October 8, 2025
Why Eagles Can Still Secure 2026 World Cup Ticket-Mikel
Urban Sports October 8, 2025
After Missing Three Drug Tests, Conor McGregor Banned From Fighting At White House
Urban Sports October 8, 2025
Executive Master of Transport Management
//

UrbanExpressNews is Nigeria Most Reliable Online News, With Quality Pedigree of Writers made available on the online space.

Download Our App

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

info@urbanexpresslive.com

 

Follow US
© 2024 Urbanexpresslive. All Rights Reserved.
Welcome Back!

Sign in to your account