Fuel Scarcity: IPMAN Accuses NNPCL of Hoarding Products, Demands Supply

THE Independent Petroleum Marketers Association of Nigeria (IPMAN), Mosimi Depot, in Ogun State on Tuesday, has called on the Nigeria National Petroleum Corporation Limited (NNPCL) to supply its members petroleum products worth N75.142 billion paid for since June.

According to the Association, the current fuel scarcity in the South West region of the country was due to refusal of the management of NNPCL to make petroleum products available to its members three months after payment.

IPMAN, therefore appealed to the federal government, as well as other critical stakeholders in the oil industry to prevail on the NNPCL management and ensure that the corporation desists from withholding petroleum products from its members, so as to lessen the hardship being experienced by the citizens.

Speaking with journalists in Abeokuta, Ogun State capital, the IPMAN Mosimi Depot Chairman, Otunba Femi Adelaja said his members have since June this year, made a deposit payment of a whopping sum of N75 .142 billion to the corporation for supplies through the Lagos Private Depot Owners (PDO), but NNPCL refused to make the product available to its members.

Adelaja, who lamented the non-receipt of products from NNPCL three months after payment, said the management of the corporation has been using the IPMAN’s deposit to service the interest of majority marketers at the detriment of the interest of IPMAN members whose businesses have been surviving on bank loans.

Accusing NNPCL of deliberately hoarding petroleum products from its members, Adelaja said it is disheartening that the corporation could be using his members’ deposit to make supplies available to the trio of Total, OANDO and Ardova petroleum companies, who in turn, resell to few if its customers thereby, compelling them to sell at a higher price to the public.

“As I speak with you, we are surprised to see that the NNPC would not give us any supply, rather, the corporation has been busy using our deposits to run business for their various Mega Stations. They have refused to acknowledge that our businesses have been surviving on bank loans, which would charge interest on whatever amount is released to each IPMAN member”.

Credit: Vanguard