{"id":273887,"date":"2023-06-13T09:57:10","date_gmt":"2023-06-13T08:57:10","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=273887"},"modified":"2023-06-13T09:57:10","modified_gmt":"2023-06-13T08:57:10","slug":"nnpcl-issues-directive-to-marketers-on-refund-new-price","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/06\/13\/nnpcl-issues-directive-to-marketers-on-refund-new-price\/","title":{"rendered":"NNPCL issues directive to marketers on refund, new price"},"content":{"rendered":"<p>The Nigerian National Petroleum Company Limited has released a fresh circular to oil marketers on how much they will pay to get petroleum products.<\/p>\n<p>This is coming barely two weeks after the\u00a0Federal Government announced the removal of fuel subsidy.<\/p>\n<p>NNPCL Retail via a circular released on Sunday directed marketers to consider merging their old orders which carry the old fuel price in order to buy a truck of 45 million litres of petrol.<\/p>\n<p>According to report,\u00a0marketers had before the deregulation ordered one truck of petrol for about N7.7m.<\/p>\n<p>However, the new circular by the company advised <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/06\/08\/subsidy-removal-we-have-the-numbers-to-beat-down-fuel-price-oil-marketers-reveal\/\">marketers<\/a> who had probably ordered three trucks at N7.5m (N171\/litre old price), to merge their orders or ask for a refund.<\/p>\n<p>\u201cFollowing the full deregulation of PMS, NNPC Retail has made the following options available to help customers manage the impact of the additional cash flow requirement: Marketers now have the option of consolidating pre-paid self-owned tickets for fresh tickets in line with the revised price. Interested <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/02\/05\/pump-price-fuel-marketers-plan-lockdown-on-monday\/\">marketers<\/a> can engage their respective NRL Depot Representative for guidance on how to initiate this option.<\/p>\n<p>\u201cAlso, there is an option for cash refund. Marketers who are interested in initiating this option should send in official request addressed to the MD NNPC Retail.\u00a0 The request should include evidence of payment and order details (RRR number, Sales quotation number and Meter ticket number). Upon receipt of official request together with the above supporting documents, your refund request will be made processed,\u201d the memo from NNPCL Retail read in part.<\/p>\n<p>Oil marketers on Monday confirmed the development to newsmen.<\/p>\n<p>The Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, confirmed the development. He however said it might be difficult for some marketers to raise such huge funds required to place an order for petroleum products.<\/p>\n<p>\u201cWhere do you want us to get such money from?\u201d Osatuy asked.<\/p>\n<p>\u201cThe price difference is huge and most can\u2019t afford it. So what we will start seeing is that instead of ordering for one truck, marketers can now go for maybe a quarter or half truck just like it\u2019s being done for <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/07\/10\/remove-vat-on-diesel-to-curtail-price-hike-man-tells-fg\/\">diesel<\/a>,\u201d he said.<\/p>\n<p>\u201cSince NNPC said we consume 66 million litres daily, we are sure that it would drop to as low as 30 million litres soon,\u201d Osatuyi said, corroborating what a former Chairman of the Major Oil Marketers Association of Nigeria, and Chief Executive Officer, 11 Plc, Tunji Oyebanji, had stated.<\/p>\n<p>According to Oyebanji, ending fuel subsidies will stop smuggling and bring to bear Nigeria\u2019s true daily petrol consumption.<\/p>\n<p>Oyebanji also said an increase in fuel price by the NNPCL would see smaller downstream companies folding up, and being acquired by bigger companies.<\/p>\n<p>\u201cRemoving petrol subsidies is one of the best decisions Nigeria would ever make because smuggling would stop. This is the time we will know the real petrol consumption of Nigeria, likewise, many smaller stations will fold up and would get acquired by bigger ones\u201d Oyabanji said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Company Limited has released a fresh circular to oil marketers on how much they will pay to get petroleum products. This is coming barely two weeks after the\u00a0Federal Government announced the removal of fuel subsidy. NNPCL Retail via a circular released on Sunday directed marketers to consider merging their old orders [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":248500,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[2571,66056,66057,14727],"class_list":["post-273887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-fuel-subsidy","tag-nnpc-retail","tag-nrl-depot-representative","tag-petroleum-products"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NNPCL issues directive to marketers on refund, new price<\/title>\n<meta name=\"description\" content=\"The Nigerian National Petroleum Company Limited has released a fresh circular to oil marketers on how much they will pay to get petroleum products\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2023\/06\/13\/nnpcl-issues-directive-to-marketers-on-refund-new-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPCL issues directive to marketers on refund, new price\" \/>\n<meta property=\"og:description\" content=\"The Nigerian National Petroleum Company Limited has released a fresh circular to oil marketers on how much they will pay to get petroleum products. 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