NipCo Plc, has commenced the importation of Premium Motor Spirit (PMS), otherwise known as petrol, despite the current challenges facing the sector.
The petroleum marketing company, decided to go ahead and import petrol despite the agitations of its fellow marketers over the outstanding subsidy debt of N413 billion which is yet to be paid by the Federal Government.
The first consignment of imported product arrived via the MT CHAMPION, discharging 37 million litres in NipCo’s terminal in Lagos. It was also gathered that NipCo has mapped out measures to ensure that all the products get to the designated stations at regulated prices in line with its avowed policy of making sure that marketers load the product at the approved depot rate of N77.66k per litre.
