Hammed Fashola, the National Vice President of IPMAN, made this disclosure.

According to reports, the Nigerian National Petroleum Company Limited has agreed to sell Premium Motor Spirit (petrol) to members of the Independent Petroleum Marketers Association of Nigeria at a price of N995 per litre, maintaining the high price of petroleum per litre in the country.

Hammed Fashola, the National Vice President of IPMAN, made this disclosure.

Fashola stated that the Department of State Services’ (DSS) “intervention” made this possible, according to the PUNCH report.

“We are really grateful for their assistance. They are carrying out their duties. It is their obligation to step in if they witness a potential disaster somewhere. And through their assistance, the parties were able to come to a mutual understanding and harmony, and everyone committed to cooperating,” said Fashola.

“As of right moment, I believe they are giving us N995 per litre, quite roughly.”

He did point out that, in spite of the N995 per litre sales, the transportation costs might eventually raise the price per litre of petroleum.

Depending on where you are. I believe there will be a slight decrease with the N995. Remember that you will be responsible for paying for both transportation and additional fees if you are shipping a goods from Lagos to a distant location.

“We want to have a common ground, so we want to work on that.” We want as consistent a pricing as possible when we sit down and review the price analysis provided to us, taking into account all of our costs.

I am unable to provide you with a precise pricing at this time, but we are working on it, particularly in the Lagos axis and other zones. We’ll examine the expense of transportation and related matters. We shall set the price for ourselves at the end of the day,” he said.

He claimed that although pricing difference has plagued marketers previously, the recent developments surrounding Dangote will put an end to it.

“Our disadvantage compared to NNPC Retail and other large merchants has been the pricing difference. In order to completely reintegrate into the business, we are attempting to determine how to narrow that gap. We have been having trouble with the absence of direct supply, but now that we have found a solution, I don’t think that gap will recur,” he said.

People are stating there are lines due of the price difference, which is the reason of the lines you see. There aren’t any lines; instead, the price difference is what’s creating the lines. Therefore, if there isn’t much of a difference, you may just drive in, get petrol and go; there are filling stations everywhere. However, the wide pricing disparity is causing the situation of lines, he explained.

Petroleum price has been the subject of controversy, particularly because the Nigerian National Petroleum Company Limited is the exclusive distributor.

Petroleum marketers had claimed that, up until this point, they had not been informed about the price of petroleum per litre from the Dangote refinery.