The Nigerian National Petroleum Company Limited (NNPC Ltd) has issued a decisive directive to petroleum marketers who purchased fuel through its online portal, demanding that they top up their payments in line with the latest ex-depot prices or risk forfeiting their allocations.
The NNPC Fuel Payment Top-Upe announcement underscores the critical need for compliance within Nigeria’s deregulated downstream oil sector, where price adjustments are now part of market realities.
NNPC Fuel Payment Top-Up Requirement Explained
Confirming the directive to ireport247news.com, NNPC’s spokesman, Andy Odeh, emphasized that marketers who fail to meet the new pricing requirements could opt for refunds instead.
“Where payments have been made and there is a subsequent price adjustment before loading takes place, marketers are required to either pay the difference before lifting their products or, if they prefer, request a refund,” Odeh stated.
The move is designed to ensure that contractual obligations are maintained and that product loading is carried out in accordance with current pricing.
Odeh further noted that NNPC had already begun processing refund requests from some marketers, signaling the company’s adherence to regulatory and contractual fairness.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has, however, called on NNPC Group Chief Executive Officer, Bayo Ojulari, to resolve a backlog of loading tickets on the company’s portal.
According to IPMAN, several marketers have paid for petroleum products but have been unable to lift their allocations due to system delays.
Chinedu Ukadike, IPMAN’s Publicity Secretary, urged immediate action, highlighting the impact on business operations.
“We have been calling on NNPC to reimburse us for our money or release products tied to the outstanding tickets in their system.
The intervention has started, but not at full force,” he explained.
While Ukadike could not specify the exact number or value of tickets involved, he stressed that the financial stakes were significant and required prompt attention to prevent disruptions to fuel distribution nationwide.
The call from IPMAN follows protests by its members in June over diesel price increases at the Port Harcourt refinery.
Marketers reported that depot officials raised diesel prices from N980 per litre to N1,130 per litre, despite previous payments under earlier pricing arrangements.
This delay in product loading prior to price adjustments has left many marketers in a precarious position, affecting cash flow and operational planning.
Analysts have warned that prolonged uncertainty in fuel pricing could destabilize the distribution network, leading to potential scarcity or higher retail prices in certain areas.
A further complication for independent marketers concerns unpaid Petroleum Equalisation Fund (PEF) disbursements.
Ukadike revealed that NNPC still owes approximately N25bn under the fund. While the new NNPC management has reportedly generated over N20tn in revenue in just four months, outstanding debts continue to affect operational liquidity.
“The pending PEF funds must be cleared so marketers can remain competitive in a deregulated economy and contribute to national energy security,” Ukadike stressed.
NNPC, however, clarified that the management and disbursement of the equalisation fund fall under the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), not NNPC Ltd.
In a related development, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) commended NNPC for engaging UOP, a leading international refining technology firm, to assess the Port Harcourt Refinery for potential technical and equity partnership with a private entity.
“PETROAN commends NNPC’s GCEO, Bayo Ojulari, for initiating the process to revive the Port Harcourt Refinery.
Awarding the assessment contract to UOP demonstrates a clear commitment to restoring functionality,” said PETROAN Publicity Secretary, Joseph Obele.
The ongoing ticket delays, price top-ups, and unresolved equalisation fund claims highlight the operational challenges in Nigeria’s downstream oil sector, even after fuel subsidies were removed under the Petroleum Industry Act.
Market analysts assert that these issues must be addressed swiftly to stabilize fuel distribution, safeguard energy security, and maintain confidence among independent marketers.
By enforcing the NNPC fuel payment top-up directive, the company aims to ensure financial sustainability while balancing the needs of its private sector partners.
Failure to adhere to the new pricing structure could disrupt operations and potentially affect national fuel availability.
As Nigeria navigates a fully deregulated fuel market, cooperation between NNPC and independent marketers remains essential.
Clearing outstanding tickets, ensuring timely refunds, and resolving PEF debts will not only enhance liquidity but also provide stability to the nation’s fuel distribution network.
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