IPMAN Demands NNPCL Release N75.142 Billion in Fuel Supplies Amid Severe Shortage
Tuesday, the Independent Petroleum Marketers Association of Nigeria (IPMAN) at the Mosimi Depot in Ogun State urged the Nigerian National Petroleum Corporation Limited (NNPCL) to deliver petroleum products worth N75.142 billion that their members have already paid for since June.
The Association stated that the ongoing fuel shortage in the South West region is a result of NNPCL’s failure to supply petroleum products to its members, despite payments being made three months ago.
IPMAN has called on the federal government and key stakeholders in the oil industry to pressure NNPCL to stop withholding petroleum products from its members, as this is exacerbating the fuel shortage and causing significant hardship for citizens.
In a statement to journalists in Abeokuta, Ogun State, Otunba Femi Adelaja, Chairman of the IPMAN Mosimi Depot, revealed that his members had paid N75.142 billion to NNPCL for fuel supplies through the Lagos Private Depot Owners (PDO) since June. Despite this substantial payment, NNPCL has failed to deliver the products.
Adelaja expressed frustration over the delay, alleging that NNPCL has been using IPMAN’s deposits to fulfill the needs of major marketers while neglecting IPMAN members, whose operations are reliant on costly bank loans. He accused NNPCL of intentionally hoarding petroleum products and directing supplies to companies like Total, OANDO, and Ardova, which then resell to a select few customers at higher prices.
“We are dismayed that NNPCL continues to withhold supplies from us while using our deposits to support their Mega Stations,” Adelaja said. “Our businesses are struggling under the weight of bank loans with high interest rates, and yet NNPCL ignores our plight.”
IPMAN Mosimi Depot is urging Nigerians to support their cause and demand that NNPCL address the issue before it drives their members out of business.
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