The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a warning to shut down its 30,000 stations nationwide if the Federal Government fails to settle a debt of N200 billion owed to marketers.
The debt, accruing since September 2022, remains uncleared by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), according to IPMAN Chairman, Yahaya Alhassan.
Bridging claims, payments for transporting petroleum products, have not been settled, leading to potential closures of IPMAN outlets across Nigeria.
Despite directives from Minister of State for Petroleum Resources, Heineken Lokpobiri, to clear the debt within 40 days, only a fraction has been paid, leaving IPMAN members in distress.
Alhassan lamented the impact on members’ businesses, with bankruptcies, closures, and job losses, urging President Buhari to intervene.
In response, NMDPRA stated the payment process is ongoing, but IPMAN insists on immediate action, threatening a nationwide shutdown.
Additionally, IPMAN refuted claims of hoarding petroleum products, attributing the scarcity to inadequate supply by the Nigerian National Petroleum Company Limited (NNPC).
NNPC assured Nigerians of resolving the fuel scarcity Today, May 1, citing logistical challenges and supply to private depots at inflated prices as contributing factors.
