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Ex-depot Price of Fuel Increases Again, Marketers React, Send Message to Tinubu [Video]

  • President Bola Tinubu has been asked by downstream operators to take a more active interest in the NNPC’s operations
  • This is in response to the nationwide fuel scarcity at retail locations and the irate Nigerians’ calls for a price reduction
  • The marketers pleaded with the federal government to order the four refineries to stop importing goods

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Downstream operators have urged President Bola Tinubu to show more than a passing interest in the operations of the Nigerian National Petroleum Company Limited (NNPCL), the Depots and Petroleum Products Marketers Association of Nigeria (DAPPMA), and the regulatory body, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

An inquiry showed that the owners of tank farms sell to marketers for between N700 and N740, which leaves them with little to no profit margin to sell at stations. Photo Credit: ContributorSource: UGC

This is in light of …

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