NNPCL Reopens Satellite Depots

The Nigerian National Petroleum Company (NNPC) Limited has reopened the satellite depots for operation.

Oil marketers have been complaining that they were being ripped off by private depot owners during the purchase of Premium Motor Spirit (PMS), also known as petrol.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) had a few weeks ago decried the attitude of private depot owners.

The association leadership, at a media briefing in Lagos last month, accused the private depot operators of selling PMS above the approved prices to marketers.

The satellite depots have resumed operations after a 15-month closure for repair work.

The repair works on the depots were carried out by the NNPCL subsidiary, NNPCL Pipeline, and Marketing Limited.

The chairman of Satellite Depots, Akin Akinrinade, told journalists on Sunday that the facilities started receiving products on Friday.

He said: “Satellite depots started loading at about 12:30 p.m. on Tuesday after 15 months of inactivity.” “We now load through the pipeline because the integrity has been restored.”

Akinrinade said the transportation of the products would not be a one-off arrangement and prices would drop as a result of the depots’ operation.

“Although they have instructed depots to sell at N172 per liter, we have not started selling to marketers.” We have been receiving products since Friday. We received it on Saturday, and some will also come in today (Sunday).

“Since products are now being received, prices will now come down.” “I can assure you that the remaining queue will disappear this week,” he added.