NNPC’s Debt to Marketers Nears N15 Billion, IPMAN Claims

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that the Nigerian National Petroleum Company Limited (NNPCL) owes its members nearly N15 billion. This statement was made by IPMAN’s National President, Abubakar Garima, during an appearance on Channel TV’s Sunrise Daily on Thursday.

Garima emphasized that since the NNPCL raised its pump price, members of the association have not been able to load a single truck. When asked about the exact debt owed by the NNPCL, he stated, “Roughly, it is almost getting to N15 billion. Our money is already with the NNPCL. It has refused to give us the product we paid for and is asking us to complete the difference.”

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Highlighting the urgency of the situation, he added, “Our money has been with the NNPCL for almost three months now. They either need to sell for us at the same rate they are purchasing from Dangote Refinery or refund us so we can buy directly from Dangote Refinery.”

In related news, the Nigeria Labour Congress (NLC) has opposed recent fuel price hikes and is calling for an immediate reversal. Additionally, IPMAN previously urged the Federal Government to allow its members to procure petroleum products directly to alleviate the ongoing pressure in the sector. Despite NNPCL’s recent initiative to load Premium Motor Spirit, commonly known as petrol, from Dangote Petroleum Refinery, many filling stations across the country are still waiting for supply.