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DSS, Oil Marketers Set for Crucial Meeting Over Rising Pump Prices

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Petroleum marketers have announced a critical meeting with the Department of State Services (DSS) over the increasing price of Premium Motor Spirit (PMS), commonly known as petrol, and its availability in Nigeria.

The meeting is scheduled for Wednesday, October 9, 2024.

This information was disclosed to Daily Post by the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday.

While the IPMAN President did not give specific details on the agenda for the meeting, he confirmed that the primary focus would be on the price of petrol and ensuring its availability to marketers across the country.

“Wednesday I have a meeting with the Department of State Services,” he said.

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He added, “It is about the petrol pump price. Anywhere IPMAN is involved, it is about the issue of petrol and its availability to members.”

However, when pressed for further information on what exactly would be discussed at the meeting, the IPMAN President remained cautious, stating, “Until we go there, I will brief you after the meeting.”

This meeting comes at a time when Nigerians are grappling with unprecedented petrol prices, which have skyrocketed to between N950 and N1,200 per litre in various parts of the country.

Many Nigerians have expressed frustration over the steep cost of fuel, which has put immense pressure on households and businesses alike.

Public transportation fares have risen sharply, and the cost of goods and services has followed suit.

The rising price of petrol is a major concern for millions of Nigerians who rely on fuel for their daily activities, including commuting to work, running businesses, and generating electricity in homes.

As one frustrated Lagos resident put it, “How can the average Nigerian survive in this situation? Every week, the price of fuel goes up, and no one seems to be doing anything about it.”

Others have echoed similar sentiments, calling on the government and relevant authorities to intervene and provide relief for the people.

Adding to the tension in the petroleum sector, it was reported on Monday that the Nigerian National Petroleum Company Limited (NNPCL) has stepped down from its role as the sole off-taker of petrol produced by the Dangote Refinery.

The Dangote Refinery, which began distributing petrol in September 2024, had been seen as a potential game-changer in reducing the country’s reliance on imported fuel.

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The refinery’s operations kicked off with high hopes that it would bring down the price of petrol by increasing the local supply of refined products.

However, on the same day the Dangote Refinery began distributing its products, NNPCL announced an increase in the official petrol pump price, further compounding the challenges faced by consumers.

The withdrawal of NNPCL as the sole off-taker of Dangote Petrol has left many Nigerians wondering what this development means for the future of fuel pricing in the country.

The NNPCL had been heavily involved in the oil sector for years, acting as both a supplier and regulator of petroleum products.

With their exit from this crucial role, there is now uncertainty about who will step in to ensure price stability and fair distribution of petrol across the country.

The planned meeting between petroleum marketers and the DSS is being closely watched by industry players and the public alike.

The DSS, primarily responsible for intelligence gathering and maintaining internal security, may not be directly involved in regulating fuel prices.

However, their interest in the matter suggests that the government sees the current fuel situation as a potential threat to national stability.

Widespread fuel scarcity and skyrocketing prices have historically led to protests and civil unrest in Nigeria.

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