HomeBUSINESSMarketers Raise Concerns as NNPCL Causes Fuel Supply Delays

Marketers Raise Concerns as NNPCL Causes Fuel Supply Delays

In a fiery confrontation, the Independent Petroleum Marketers Association of Nigeria calls out the Nigerian National Petroleum Company Limited for causing distress through its alleged sluggishness in providing petroleum products. 

Fed up with waiting, oil marketers voice their frustrations, revealing that they’ve resorted to pricey alternatives at private depots. 

Hammed Fashola, the National Vice President of IPMAN, appeals to the Federal Government to prioritize IPMAN members and revamp the current fuel distribution system. 

Highlighting the fact that independent marketers own a staggering 80% of filling stations in Nigeria, Fashola insists that they should receive the “lion’s share” of fuel allocations. 

Fashola sheds light on their struggle, explaining that they face the daunting task of paying for products upfront to the NNPCL, without enjoying any credit facility. 

Unfortunately, there have been instances where these payments yield no results for months, locking away billions of Naira belonging to IPMAN members. 

The situation has become dire, with trapped funds leading to crippling debt for many marketers. 

Fashola reveals how desperate operators are being forced to sell their stations just to settle their loans and survive in this harsh landscape. 

Despite being in constant communication with the NNPCL, Fashola confesses that obtaining relief is an uphill battle. 

The NNPCL, grappling with its limitations and restricted to a mere 30% of distribution due to market monopoly concerns, struggles to sufficiently address IPMAN’s needs. 

With the recent acquisition of Oando, expanding their retail outlets to a staggering 900 stations, Fashola insists that it’s high time the NNPCL reevaluates its distribution formula to accommodate IPMAN’s legitimate demands. 

In response, the NNPCL spokesman, Femi Soneye, denies knowledge of any trapped funds but urges IPMAN to provide evidence to substantiate their claims. 

However, Soneye admits that a meeting with IPMAN took place, creating a sense of uncertainty in the face of this escalating conflict. 

Will the Nigerian oil market find a solution that benefits all parties involved, or will these tensions ignite further chaos? Only time will reveal the outcome of this critical standoff. 

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