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Tuesday, September 27, 2022

Fresh NNPC charges may increase pump price

Amidst Fuel scarcity, and Adulterated petrol, there are strong indications that pump price might increase, as the  Nigerian National Petroleum Company (NNPC) Limited, introduces fresh charges

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However, the Newspaper reported that a memo A  from NNPC Limited has introduced fresh marine charges for marketers.

The letter with Ref. NNPC/ML/STS01, dated 18th February, 2022, and addressed to all marketers, with the title, “Payment of STS Coordination Charge” signed by O.I O Ajilo on behalf of GGM Shipping, read thus:

“Please be informed that the NNPC Management has directed that effective (from) 10th February, 2022, the sum of N500,000 only will be charged for STS Coordination fee for each transshipment operation involving NNPC Marine Logistics.

“A remita payment request will be generated by our accounts section for each operation to effect necessary payment upon the vessels tendering notice of readiness  (NOR),” NNPC said in the letter.

Our source revealed that the process of treating the off-spec PMS is ongoing as, advised by chemists and analytical laboratories, sludge extracts are being processed and disposed of without any harm to the environment.

The source, however, said the Petroleum Products Marketing Company (PPMC) brings in cargoes for the above process and for distribution to the buying public but they need to do much more.

But our source hinted that a point of serious concern to marketers is that while NNPC Limited and its business units, which are also ‘Limited’, are recovering all their costs by passing same to marketers, there is no approval for marketers to pass these costs to the pump buyer, but marketers cannot absorb these costs.

“For instance, a newly introduced cost is the bill of N500,000 imposed on marketers by NNPC for the ‘daughter vessel’ Bill of Lading/co-ordination fee.

“Prior to now, marketers charter NNPC vessels and pay in Naira. However, we are now forced to source US dollars to pay for the charter of NNPC vessels which is separate from the costs of fenders and other ancillary costs now separated from vessel charter cost which marketers now bear, but  we have no approval to pass on to the pump.

“NMDPRA and NNPC have both stated FG’s reluctance to review pump price but since they have passed them to marketers, the latter will reflect it either ex-depot or at the pumps.

“Marketers are business owners who mostly operate on bank loans and we too must recover all costs.” the source said.

However, Fuel scarcity as begin to ease off at the Federal Capital Territory, Abuja, but still lingers in some states 

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