The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that the Nigerian National Petroleum Company (NNPC) Limited has cancelled their pre-subsidy removal agreement.
According to the IPMAN Chairman, Suleja Branch, Yahaya Alhassan, the marketers had outstanding tickets or Premium Motor Spirit (PMS), also known as fuel, which the NNPC didn’t deliver before the subsidy removal.
Alhassan said the outstanding PMS had been paid for by its members during the subsidy regime, but after President Bola Tinubu announced the end of the subsidy, the NNPC decided to renegotiate the payments on the outstanding fuel yet to be delivered.
