As the nation grapples with a persistent petrol scarcity, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a stern warning of a possible shutdown of operations due to unpaid debts totaling approximately N200 billion owed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Despite assurances from NNPC Limited that logistic challenges causing the scarcity had been resolved, fuel shortages persist, with long queues observed at open filling stations and black market operators capitalizing on the situation, selling petrol at exorbitant prices.
Members of the IPMAN Depots Chairmen Forum expressed frustration over the failure of the NMDPRA to refund bridging claims owed to them over the past two years. According to Maxi Oliver Okolo, Chairman of IPMAN Aba Depot, efforts to seek redress have been met with little success, with only a fraction of the debt being paid despite directives from the Minister of State for Petroleum Resources.
Okolo highlighted concerns over the arbitrary increase in fees for Sales and Storage Licenses by the NMDPRA, calling for urgent intervention from President Bola Ahmed Tinubu to reverse the hike, which he described as detrimental to their businesses and ultimately harmful to consumers.
Alhaji Yahaya Alhassan, Chairman of IPMAN Depots Chairmen Forum, echoed the call for government intervention, emphasizing the need for independent marketers to access petrol from NNPC Limited depots instead of being compelled to patronize private depots.
The IPMAN’s threats of a shutdown underscore the urgency of addressing the outstanding debt owed to marketers and the need for transparent regulation to ensure a stable supply of petrol across the country. As stakeholders await government action, concerns mount over the potential economic impact of a prolonged fuel crisis on businesses and the general populace.