By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Petrol Marketers Warn of Potential Fuel Scarcity as NNPCL Shuts Down Purchase Portal
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Energy & OilNewsTop stories

Petrol Marketers Warn of Potential Fuel Scarcity as NNPCL Shuts Down Purchase Portal

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: October 3, 2024
Share
2 Min Read
SHARE

Petroleum marketers have raised concerns over the closure of the Nigerian National Petroleum Company Limited (NNPCL) portal used for purchasing Premium Motor Spirit (PMS), commonly known as petrol, warning that the situation may lead to another round of fuel scarcity across the country, Okay.ng reports.

In a statement on Wednesday, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), disclosed that the shutdown has left over 2,000 pending tickets for the purchase of 45,000 liters of petrol each. This has made it impossible for dealers to apply for the commodity.

“We have more than 2,000 tickets for 45,000 liters (of petrol). That is 45,000 multiplied by 2,000; you can now know the number of million liters it will be,” Ukadike explained, estimating the volume at approximately 90 million liters.

He also noted that a 45,000-litre truckload of petrol currently costs around ₦39.5 million, totaling ₦79 billion when multiplied by 2,000.

- Advertisement -

Ukadike expressed concern that the portal’s closure could result in widespread fuel scarcity if the situation persists.

Responding to the concerns, Olufemi Soneye, spokesperson for NNPCL, acknowledged the backlog of pending transactions but explained that the closure was a temporary measure to prevent the company from holding marketers’ funds for too long.

Soneye assured that the portal would be reopened once the backlog is addressed, though he did not specify a date for its reopening.

“We are working to address the backlog as soon as possible,” Soneye said, adding that the closure aims to prevent prolonged holding of funds from marketers.

- Advertisement -

This development comes at a time when Nigerians are already grappling with high energy costs, with petrol prices ranging between ₦950 and ₦1,100 per liter following a price increase announced by NNPCL in September 2024 after lifting petrol from Dangote Refinery.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Chinedu UkadikeFuel ScarcityIPMANNigeriaNNPCLOlufemi SoneyePetrolpetrol purchasePMSportal shutdown
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Gboyega Oyetola FG Plans Port Facilities Upgrade
Next Article Keyamo Hails Return of Emirates Airlines, Promises Competitive Pricing on International Routes

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 1 day ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
Aminu Dantata to be Buried in Madinah After Saudi Approval
News
VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags
Crime Video
SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending
News
- Advertisement -
Ad imageAd image

You May Also Like

NewsSecurity

Security Situation Improving, CDS Urges Continued Support from Nigerians

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
PoliticsTop stories

David Mark to Lead Anti-Tinubu Coalition Under African Democratic Congress Platform

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
InternationalNews

FG to Plant 20 Billion Trees Next Rainy Season in National Reforestation Drive, Says VP Shettima

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 28, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?