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IPMAN Threatens Fuel Supply Disruption Over Unpaid ₦200bn Debt Amid Nationwide Scarcity

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a stern warning of potential fuel supply disruptions due to unpaid bridging claims totaling ₦200 billion.

This threat arises amidst a nationwide scarcity, driving prices of Premium Motor Spirit (PMS) to alarming levels ranging between N610 and N800 at regular pumps and between N1000 and N1200 in the black market.

Mazi Oliver Okolo, the Unit Chairman and Spokesperson of Aba Depot, representing IPMAN, conveyed the threat with the full endorsement of the association’s national leadership. He attributed the outstanding debt to the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA), emphasizing that despite directives from Petroleum Minister (Oil) Heineken Lokpobiri, the debt remains unpaid.

Okolo highlighted the dire consequences of this situation, noting that since the minister’s directive in February 2024, only ₦13 billion has been disbursed, severely affecting IPMAN members’ operations.

He pointed fingers at the Nigerian National Petroleum Company Limited (NNPCL), the exclusive importer of petroleum products, for exacerbating the scarcity by selling to private depots at inflated prices, which IPMAN members then struggle to distribute across the country.

In an urgent plea, IPMAN urged President Bola Tinubu to intervene promptly, stressing the detrimental impact on their businesses and the broader populace. They warned of potential widespread disruptions to fuel supply and sales if their demands are not swiftly met.

“We are prepared to take decisive action that could disrupt the supply and distribution of petroleum products across Nigeria if our grievances are not addressed promptly,” the group declared.

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