Oil marketers, represented by the Independent Petroleum Marketers Association of Nigeria, have expressed their displeasure with the Nigerian National Petroleum Company Limited, citing a significant delay in the supply of petroleum products. This delay has compelled the marketers to seek fuel from private depot owners at higher costs, prompting them to boycott the NNPCL.
Speaking exclusively to The Media Talk Africa, Hammed Fashola, the National Vice President of IPMAN, urged the Federal Government to reconsider the current distribution pattern and prioritize IPMAN members. He emphasized that independent marketers, who own 80% of the filling stations in Nigeria, should be allocated a larger share of the fuel distribution.
Fashola raised concerns about the financial implications of the delay, stating, “We buy products from NNPCL cash and carry… There are times we pay for products, and you don’t get the products for two or three months. Our money is always there trapped, while we keep struggling to get fuel.”
He highlighted the substantial financial impact on IPMAN members, as their funds remain locked in the NNPCL’s accounts, making it difficult for them to purchase additional products. As a result, many marketers are facing challenges in repaying bank loans and are being forced to consider selling their stations to offset their debts.
Fashola also addressed the communication between IPMAN and the NNPCL, acknowledging the constraints faced by the NNPCL in light of the Petroleum Industry Act (PIA) and the company’s retail outlets.
In response to these allegations, the NNPCL spokesman, Femi Soneye, refuted the claims, stating that there is an appropriate channel for communication between IPMAN and the company. He called for evidence to substantiate the allegations made by IPMAN.
The ongoing dispute between the oil marketers and the NNPCL underscores the challenges within Nigeria’s fuel distribution system and the financial burden placed on independent marketers. As both parties continue to navigate these issues, the impact on the broader energy industry remains a point of concern.
