Oil marketers, operating under the Independent Petroleum Marketers Association of Nigeria (IPMAN), have criticized the Nigerian National Petroleum Company Limited (NNPCL) for alleged delays in the supply of petroleum products. Due to these delays, the marketers claim they are compelled to source fuel from private depot owners at a higher cost, prompting a boycott of NNPCL.
In an exclusive interview, Hammed Fashola, the National Vice President of IPMAN, urged the Federal Government to review the current distribution pattern, advocating for priority allocation to IPMAN members. Fashola highlighted issues of delayed product delivery, stating that payments made through the NNPCL portal often result in prolonged waits for the products.
He emphasized that IPMAN members have significant funds trapped in the NNPCL, affecting their ability to purchase products and causing financial strain. Fashola revealed that some marketers, unable to repay loans due to these challenges, are forced to sell their stations to offset debts.
While acknowledging ongoing communication with the NNPCL, Fashola called for a reevaluation of the sharing formula, citing constraints faced by the NNPCL in light of the Petroleum Industry Act (PIA). However, the NNPCL spokesman, Femi Soneye, denied awareness of any trapped IPMAN funds and called for evidence to support the allegations.
