Oil marketers have expressed frustration over the Nigerian National Petroleum Company Limited (NNPC) shutting down its petrol purchasing portal, making it impossible for dealers to place new orders for the product.

The marketers revealed that they are awaiting the supply of over 90 million litres of petrol, valued at approximately N79bn, from the state-owned company.

The NNPC had previously confirmed the closure of the portal, citing the need to manage a significant backlog. According to NNPC spokesperson Olufemi Soneye, the decision was made to avoid holding marketers’ funds for extended periods while the backlog is being addressed.

“We have a significant backlog to clear, and the portal was shut down to prevent holding marketers’ capital for too long,” Soneye stated. He assured that the portal would be reopened once the backlog had been sufficiently reduced.

Marketers, however, remain frustrated as the portal remains closed, with over 2,000 petrol supply tickets still pending. Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that marketers are still loading products but cannot access the portal to confirm prices or place new orders.

He estimated that each 45,000-litre truckload of petrol costs around N39.5m, which totals approximately N79bn when multiplied by the 2,000 pending tickets.

Similarly, the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) confirmed that its members are also affected by the shutdown. PETROAN President Billy Gillis-Harry briefly noted, “The portal shutdown affects us too, we are all buying from NNPC.”

In the meantime, independent marketers have turned to private depot owners, purchasing petrol at higher prices, which has led to increased fuel costs at their stations compared to NNPC and major marketers’ outlets.

Some marketers claimed they have been waiting months for petrol supplies after making payments, with some orders delayed for up to three months. These delays have led marketers to explore alternative options, including seeking direct petrol purchases from Dangote in an effort to maintain price parity across the board.

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