The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has firmly dismissed allegations that the NNPC is undermining local refineries in favour of imported fuel.
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The Independent Petroleum Marketers Association of Nigeria has rejected the ex-depot price of petrol announced by the Nigerian National Petroleum Company Limited.
“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC. Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency,” the statement said.