₦airaland Forum

The Nigerian Petroleum Company liaised with Independent Petroleum Marketers Association of Nigeria to set the price of Premium Motor Spirit (petrol) at N995 per litre.
This decision was taken as a result of the intervention of Department of State Services on settling the disputes between NNPC and IPMAN.
The National Vice President of IPMAN mentioned that the solicitation of the DSS addressed issues marketers face. Part of the issues resolved was Nigerian midstream and downstream petroleum regulatory board, which accepted to pay an outstanding 10 billion and settled issues on purchase made directly from Dangote refinery.
Fashola was really impressed with the role the DSS played in restoring and intervening between the two parties to bring about peace. He mentioned how the NNPC will sell PMS to IPMAN members would be able to set their prices closer to that of the major marketers. However the cost of transportation would still influence the retail price especially the remote areas.
The IPMAN members sell at 1,200 depending on the location, he noted that there will be reduction but if you transport a product from Lagos to a far distance extra charges will be added.
“We want to work on that because we want to have a common ground. When we sit down and look at the price analysis offered to us and factor in all our expenses, we want to have a uniform price as much as possible.’’
‘’ So, I will not be able to tell you the exact price now, but we are working on it, especially in the Lagos axis and other zones. We will look at the transportation cost and all that.. At the end of the day, we will fix price for ourselves’’ he stated.
Fashola explained that “the queues you see is because of the difference in prices, that’s why people are saying there are queues. There are no queues, it is the price disparity that is causing the queues. So if there is not much difference, we have filling stations everywhere, just drive in and buy fuel and go. But that so much difference in the price is creating that scenario of queues”.
“For now, we intend to meet with Dangote this week to see how we can work out the modalities and all of that. The Federal Government has given a directive and we want to take full advantages of that”.

A peace agreement has been reached between the Nigerian National Petroleum Company Limited (NNPCL) and independent oil marketers, following a mediation led by the Director General of the Department of State Services (DSS), Adeola Ajayi.
Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), disclosed the outcome during an interview with newsmen.
The meeting, which included a director from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and NNPCL’s Group Chief Executive Officer, Mele Kyari, facilitated a resolution, allowing independent marketers to resume product loading.
Ukadike explained, “We were invited by the DSS Director to mediate the ongoing dispute between IPMAN and NNPCL over issues including pricing and the non-compliance of Dangote Refinery in selling Premium Motor Spirit (PMS) to IPMAN. After a successful mediation, NNPCL agreed to reduce some charges and allow marketers to immediately load tickets worth N15 billion.”
Additionally, Ukadike revealed that NMDPRA agreed to issue IPMAN import licenses, enabling the association to embrace full deregulation of the oil sector.
However, NMDPRA spokesperson George Ene-Ita stated he was unaware of the meeting or any license approvals, saying, “I was not part of it.”
Meanwhile, NMDPRA has committed to making a payment of N10 billion to oil marketers as part of the outstanding funds under the Petroleum Equalisation Fund (PEF).

The billionaire and CEO of Air peace is being charged for money laundering and fraudulent activities. The US prosecutors accused Mr Onyema of submitting false documents in an attempt to close the previous investigation of a suspected $20 million bank fraud.
The United States Government has accumulated more charges and Allen Onyema continues to escape trial in an American court in the last 5 years.
The US Attorney Officials, Nothern District of Georgia, said in a statement on Friday that “On 8th October 2024, they were both charged in a superseding indictment alleging an additional count of obstruction of justice and one count of conspiracy to obstruct justice”.
Mr Onyema’s co-defendant, Ejiroghene Eghagha, the airline’s chief of administration and finance also took part in additional crimes of fraud in a failed attempt to divert the government’s investigation.
Mr Onyema and his co-defendant, joined hands in organising the movements of suspicious funds from Nigeria to American bank account named Mr Onyema’s Atlanta-Georgia-based firm, Springfield Aviation LLC between 2017 and 2018 with the reason being that it is for the purchase of another aircraft.
Ms Mayfield, a bartender, restaurant waitress, a nightclub dancer. Was encouraged by Mr Onyema to act as a Manager of Springfields Aviation, and input contracts on behalf of the firm and to also sign fake documents.
She is sentenced to three years probation by the US District Court for partaking in the facilitation of the alleged fraud.
Premium Times reported that Mr Onyema and his Co-defendant remain wanted in the court after an alleged $20 million bank fraud and they are also yet to appear in the court to take their plea.