Many depot owners may soon shut down their facilities due to the inability to meet the new financial requirement of about N10bn by the Nigerian National Petroleum Company Limited as the cost of lifting fuel from its ships, according to reports.
NNPCL has enough stock in-country and we still buy from them pending when arrangements would be made for us to start ordering our products ourselves. Now, we have to raise about N10bn, some N5bn depending on the volume of the order to be able to access new products,” the sources said.
He added that the amount was in addition to the payment already made before the increase in the price of petrol.
The National Controller, Operations of the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, told reported that the affected stations did not have products due to the increase in the prices of products at the depots.
According to him, filling station owners are currently required to have between N22.5m and N23m to buy a truck of petrol, adding that one truck was sold for N8m before May 29.
