The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a warning that it may withdraw fuel supply services nationwide due to the non-payment of ₦200 billion bridging claims.
This threat comes amidst an existing fuel scarcity, which has driven petrol prices to between ₦610 and ₦800 at the pump and ₦1000 to ₦1200 on the black market.
According to IPMAN’s Unit Chairman and Spokesperson, Mazi Oliver Okolo, the debt is owed by the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA).
Despite a directive from the Petroleum Minister (Oil) Heineken Lokpobiri in February 2024, only ₦13 billion has been paid, leaving a significant amount outstanding.
Okolo expressed the association’s distress and frustration, stating that the unpaid claims have severely impacted their businesses, leading to bankruptcies, financial insolvency, and even the takeover of business premises by banks.
He criticized the Nigerian National Petroleum Company Limited (NNPCL) for the current fuel scarcity and accused the NMDPRA of deliberately delaying payment, causing harm to their members’ businesses.
The association has warned that if the debt is not settled, they will be forced to halt fuel supply services, exacerbating the existing scarcity.
“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.”
“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 added.
