The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a demand to the NNPC, insisting on selling petrol at Dangote’s rates or refunding payments made by marketers amid rising fuel prices.
Abubakar Shettima, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has urged the Nigerian National Petroleum Company Limited (NNPC) to supply Premium Motor Spirit (PMS), commonly referred to as petrol, to association members at rates comparable to those provided by Dangote Petroleum Refinery.
In an interview on Channels Television, Shettima called for the NNPC to repay the funds it owes petroleum marketers, which have been withheld for three months.
He highlighted the financial burden resulting from the postponed refunds and called for prompt action from the national oil company.
Shettima stated, “Our primary issue now is that we already have a significant debt from the NNPC, and the company obtained products from Dangote refinery at a reduced rate—less than N900.”
READ ALSO: Fuel Price Hike: Ajaero Condemns NNPCL’s Role in Determining Dangote Refinery’s Pricing
Shettima stated that the NNPC has directed IPMAN members to purchase petrol at different prices nationwide: N1,010 in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt and N1,040 in Warri. However, Shettima expressed dissatisfaction with having to pay more than what Dangote charges the NNPC for the same product.
“When they announced the price increase, they instructed us to add money and purchase at a higher rate than what Dangote charges them for products,” Shettima explained. He further added, “That’s why we requested that our funds be returned to our banks so we could go directly to the Dangote refinery and make purchases ourselves if necessary.”
Shettima also mentioned that the NNPC does not provide products on credit, compelling marketers to buy in advance of loading. “Whenever they have products available, they will notify us to pick them up,” he said.
The continuing conflict between IPMAN and NNPC has led to fuel shortages nationwide, as marketers and the national oil company are actively negotiating a resolution.
