The Nigerian National Petroleum Company Limited (NNPC Ltd) announced it will reopen its purchasing portal once the backlog of petrol orders is cleared.
Marketers have criticised the portal’s closure, claiming it encourages supply round-tripping and increases prices.
However, in a press statement obtained by Vanguard, the Chief Corporate Communications Officer of NNPC Ltd., Olufemi Soneye, said: “We have a significant backlog to address. 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.”
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