The Depot Chairmen Forum of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has restated that NNPC remained the exclusive importer of PMS products and refuted accusations of hoarding of PMS products leveled against its members.
In a communiqué released after its recent gathering, the IPMAN depot chairmen forum emphasized that the scarcity of PMS was not a result of any actions by IPMAN or its members but rather attributed it solely to the Nigeria National Petroleum Corporation (NNPC).
The forum accused the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) of owing its members well over N200 billion and decried the financial strain on its members, who had obtained loans to sustain their fuel retail operations across Nigeria, serving the populace.
It expressed concern over the adverse impact of the situation on their businesses, leading to closures and layoffs due to the inability to meet financial obligations, including salaries.
The Forum cited the failure of NMDPRA to settle the accrued debt since September 2022, as a major contributor to their financial woes.
The forum also said the matter had been brought to the attention of stakeholders during a meeting on February 20, 2024, chaired by Heineken Lokpobiri, the Minister of pump Petroleum Resources (Oil), and attended by NSA Nuhu Ribadu and Engr. Farouk Ahmed, the Chief Authority of NMDPRA.
Despite assurances, the debt remains unresolved, in spite ofdespite a 40-day ultimatum given to NMDPRA.
Pump price of petrol is between N610 and N800 and between N1,000 and N1,200 at the black market across the country.
