NNPC Reads Riot Act to Marketers over Products Diversion…As PPMC Revokes Bulk Purchase Agreement with Three Marketers

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1babebb6e3082b7c74215afaef8a900c_XLThe Nigerian National Petroleum Corporation (NNPC) in a bid to sanitize the fuel distribution and supply system and eliminate the queues at filling stations across some cities in Nigeria, has warned that henceforth any oil marketer found to be involved in products diversion will have its Bulk Purchase Agreement with its mid-stream subsidiary, the Pipeline and Products Marketing Company (PPMC), revoked.
The warning was issued in the face of persistent tightness of supply being experienced in the country despite huge load-outs from PPMC Depots by both major and independent marketers, a situation that has been traced to diversion.
Meanwhile, PPMC has revoked the lifting license (Bulk Purchase Agreement) of three independent marketers for engaging in products diversion and sundry infractions.
The affected marketers are Funo Alfa, Organizer West Africa, and Rich Oil. The sanction is with immediate effect.
It warned marketers to desist from products diversion, hoarding, and any other form of sharp practices as it would not hesitate to wield the big stick against any marketer found wanting, adding that it is closely monitoring the market and that the withdrawal of lifting licenses of erring marketers is a continuous exercise.

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