IPMAN Cries Out Over N75.142bn Undelivered Fuel

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Mosimi Depot, Ogun State, on Tuesday called on the Nigerian National Petroleum Corporation (NNPCL) to deliver paid-for petroleum products worth N75.142 billion since June to its members.
The association said the current fuel shortage in the southwest of the country was caused by the refusal of NNPCL management to provide petroleum products to its members three months after receipt of payment.
IPMAN, therefore, appealed to the Federal Government and other key stakeholders in the petroleum industry to pressure the NNPCL management to ensure that NNPCL stops depriving its members of petroleum products to alleviate the plight of the people.

Speaking to reporters in Abeokuta, the Ogun State capital, Chairman of IPMAN Mosimi Warehouse, Otunba Femi Adelaja, said that since June this year, its members have deposited a huge sum of N75.142 billion with the company to obtain supplies through the Lagos private depot owner (PDO) but the NNPCL has refused to make the products available to its members.

Adelaja regretted that even three months after payment, he had not received the goods from NNPCL, saying the company management was using IPMAN deposits for the benefit of wholesalers to the detriment of IPMAN members, whose companies live off bank loans. Adelaja accused the NNPCL of deliberately hoarding its members’ petroleum products, saying it was regrettable that the group used its members’ deposits to supply three oil companies, Total, OANDO, and Aldoba, which then resell to some customers so that they could be forced to sell to the public at a higher price.
“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.”
However, IPMAN Mosinmi Depot is seeking the support of all well-meaning Nigerians to persuade the management of NNPCL to stop supplying to them before they finally succeed in forcing their members out of business.