The Nigerian National Petroleum Company Limited [NNPC Ltd], on Thursday confirmed that its purchasing portal would be reopened as soon as the backlog of orders for petrol was cleared.
Marketers had complained about the portal shutdown, adding that it encourages round-tripping of product supplies while driving prices.
But in a press statement made available to reporters, NNPCL spokesman, Olufemi Soneye explained that the closure is to prevent the oil giant from marketers funds for extended periods of time.
“We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period, Soneye said.
“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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