After FG’s Intervention, Ijegun Tankfarm Owners to Sell Fuel at N172 Ex-depot Price


* To begin distribution of 127m litres nationwide from Monday

Emmanuel Addeh in Abuja

There appears to be some respite in the horizon from the prolonged petrol scarcity, with the Ijegun-Egba Tankfarm Owners and Operators Association, which controls about 35 per cent of supply nationwide, resolving to sell products at the approved N172 ex-depot price.

It was learnt that some marketers currently buy the product for over N200 despite the official rate, following the rise in logistics and handling charges usually denominated in dollars.

Rising from its meeting at the weekend, the operators vowed to ensure that the 127 million litres allocated to it for the month of February are distributed to Nigerians without any hindrance.

The association is the umbrella body of all the oil companies currently engaged in the operation of petroleum storage tankfarms and facilities at Ijegun-Egba, Satellite Town, Lagos, along the Ojo Creek Channel.

Its members include A.A. RANO…

Source: Thisday Newspaper