The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that it is taking steps to clear a backlog of petrol supply orders, which has led to the temporary closure of its purchasing portal. The company assured that the portal will be reopened once the backlog is resolved.
The closure has sparked concerns among fuel marketers, who argue that the move has led to challenges in product availability and price instability. Some marketers claimed that the shutdown could encourage practices like round-tripping, where products are resold multiple times, inflating prices in the process.
In response to these concerns, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, addressed the situation in a press release obtained by Vanguard. He emphasized that the decision to close the portal was a necessary measure to prevent marketers’ funds from being tied up due to the existing backlog.
“We have a significant backlog to address,” Soneye stated. “The closure is intended to prevent us from holding marketers’ funds for an extended period. It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible.”
NNPC’s move comes amid ongoing efforts to stabilize petrol supply across the country, with the company focusing on clearing outstanding orders and ensuring a smooth flow of products to the market. Marketers and consumers alike are hopeful that the issue will be resolved promptly to prevent further disruptions in the petrol supply chain.
