Oil marketers, representing the Independent Petroleum Marketers Association of Nigeria (IPMAN), have criticized the Nigerian National Petroleum Company Limited (NNPCL) for what they claim is a delay in the supply of petroleum products.
Prime Business Africa reports that Hammed Fashola, the National Vice President of IPMAN, voiced concerns about the impact on their members, revealing that they have resorted to procuring fuel from private depot owners at a higher cost due to the alleged inefficiencies in NNPCL’s operations.
Join our WhatsApp ChannelFashola called on the Federal Government to re-assess the current distribution pattern, urging a prioritized allocation of fuel to IPMAN members, who own 80% of the filling stations in Nigeria.
Emphasizing the financial strain on independent marketers, Fashola stated that they operate on a cash and carry basis with NNPCL, often facing extended delays in product delivery despite prompt payment.
He revealed that IPMAN members have billions of Naira trapped in the NNPCL, stating, “Our money is always there trapped, while we keep struggling to get fuel.” Fashola lamented the ripple effect, with some marketers unable to repay loans, leading to the forced sale of their stations.
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The spokesperson for NNPCL, Femi Soneye, denied awareness of any funds being trapped, emphasizing that IPMAN has established communication channels with the company and urged those making allegations to provide evidence.
As the battle between IPMAN and NNPCL unfolds, the fuel distribution landscape faces potential upheaval, and the Federal Government is now under pressure to intervene and address the concerns raised by the independent petroleum marketers.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
