The independent petroleum marketers’ association of Nigeria (IPMAN), has threatened to cripple the supply of premium motor spirit (PMS), also known as petrol, over what they describe as the non-payment of ₦200bn bridging claims.
The threat comes following current nationwide scarcity which has seen prices of petrol surge to between ₦610 and ₦800 at the pump, and between ₦1000 and ₦1200 at black market.
The association’s unit chairman and spokesperson, Aba depot, Mazi Oliver Okolo, issued the threat, saying it was with the backing of the IPMAN’s national leadership.
He claimed that the debt is being owed by the Nigerian midstream and downstream petroleum regulatory commission (NMDPRA).
In a communique released after a press conference on Tuesday, Okolo said NMDPRA failed to pay the ₦200bn debt despite a directive for payment from the petroleum minister (oil) Heineken Lokpobiri.
The IPMAN deport chairman claimed that since the directive by the minister in February 2024, only ₦13bn had been paid to their members, saying that the unpaid claim had crippled their businesses.
“We are extremely distressed and depressed by the laidback attitude of the leadership of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), towards the survival of our member’s businesses, arising from NMDPRA’s deliberate delay and refusal to offset the debt of over N200 Billion owed our members, which has consequently led to the deaths of many of our members and the unfortunate collapse of their businesses.”
“We have watched with apprehension also, the unpatriotic attitude of the leadership of the NMDPRA to offset this debt that has been accrued to us since September 2022. As businessmen and women, our members acquired bank loans to keep their fuel retail outlets running daily across the nooks and crannies of Nigeria, to serve the teeming population of Nigerians. However, it is demoralising to know that many of our members have gone bankrupt and have become financially insolvent as a result of their inability to meet their financial obligations to their banks, arising wholly from their inability to get their monies from the NMDPRA. Consequently, also, the banks have taken over the business premises of many of our members. As indigenous organisations, and Depot Chairmen, we are unhappy that rather than receiving support from the government to boost our businesses, we are being discouraged, by the head of NMDPRA.
It is noteworthy to recall and state here that at a stakeholders meeting held on the 20th of February, 2024 with Mr. Heineken Lokpobiri, the Honourable Minister of Petroleum Resources (Oil), and the NSA Nuhu Ribadu, Engr. Farouk Ahmed, the Chief Authority of NMDPRA, was mandated by Mr. Heinehken
Lokpobiri to clear the entire debt in 40 days. However today, we have crossed the 40 days time-lapse given to the NMDPRA to clear the debt, and it is shameful to state that only the paltry sum of N13Billion has been paid, thus going the
whole length to ignore our plight without remorse and without recourse to the Honourable Minister’s directive,” the statement read.
