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    MarketForces Africa » MarketForces News » Substandard Petrol: IPMAN, NNPC, Stakeholders in Dialogue

    Substandard Petrol: IPMAN, NNPC, Stakeholders in Dialogue

    Julius AlagbeBy Julius AlagbeFebruary 8, 2022Updated:February 10, 2026 News No Comments2 Mins Read
    Substandard Petrol IPMAN, NNPC, Stakeholders in Dialogue
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    Substandard Petrol: IPMAN, NNPC, Stakeholders in Dialogue

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it is discussing with the Nigerian National Petroleum Corporation Ltd (NNPC) and stakeholders on imported substandard Premium Motor Spirit (PMS).

    Elder Chinedu Okoronkwo, National President, IPMAN, disclosed this on Tuesday in an interview with the News agency in Abuja in the wake of the scarcity of fuel for petrol engines.

    Nigerians suffer fuel scarcity again on Tuesday after pressures from scarcity that was witnessed across the nation on Monday following substandard petrol products imported.

    Okoronkwo was reacting to the high sulphur PMS imported by the NNPC, while petroleum marketers had been advised not to sell especially marketers that loaded from that particular cargo.

    He said that discussion was ongoing with IPMAN, the top NNPC echelon and other relevant stakeholders on how to adjust the operational circle. This, he said, would prevent the vessel in question from discharging another substandard fuel.

    The president noted that as soon as they were done with the discussion, the outcome would be made known to the public.

    “I want to assure the general public that there should not be any panic, there is enough fuel to service them and there is no cause for alarm because nothing will affect the public or the industry.

    “This is the first time we are experiencing this and it is not an intentional issue, Nigerians should have to bear with the industry at large,’’ he said. Read: Pump Price of Petrol to Rise

    On queues being experienced at some fueling stations in Abuja presently and other parts, he assured the public that there was sufficient fuel apart from the undiluted product which had been taken care of.

    “There is enough fuel already in existence before this undiluted product, which has been taken care of. No fueling station will like to put that in the tank nor will a car buyer do.

    “But there are products on the road which have been loaded, as soon as it arrives Abuja and other states, there will be fuel before the week runs off,’’ he assured. #Substandard Petrol: IPMAN, NNPC, Stakeholders in Dialogue

    IPMAN
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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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