The Nigerian National Petroleum Company Limited (NNPC Ltd) has temporarily shut down its purchasing portal due to a significant backlog of petrol orders. The backlog has led to concerns among marketers about round-tripping of product supplies and increased prices. However, NNPC Ltd has assured that the portal will reopen once the backlog is sufficiently reduced.
Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, explained that the closure is intended to prevent marketers’ funds from being held for an extended period. The company is working to address the backlog as soon as possible.
Industry stakeholders, including Huub Stokman, Chairman of Major Energies Marketers Association of Nigeria (MEMAN), have emphasized the need for increased collaboration, better infrastructure, and energy transition to address the current fuel shortage and ensure affordable services and products.
Stokman stressed the importance of unity among businesses, government agencies, and regulatory bodies to ensure affordable services and products. He also highlighted the need for better infrastructure, such as roads and pipelines, to improve product distribution across Nigeria.
Other industry leaders, including Gabriel Ogbechie and Dr. Billy Gillis-Harry, echoed the need for increased investment in infrastructure and the benefits of deregulation. Anibor Kragha, Executive Secretary of the African Refiners and Distributors Association (ARDA), emphasized the importance of energy security and value addition in the midstream and downstream sectors.
The NNPC Ltd’s move to clear the backlog and reopen the purchasing portal is seen as a step towards addressing the current fuel shortage and ensuring a more efficient distribution of petroleum products in Nigeria.
