The Independent Petroleum Marketers Association of Nigeria (IPMAN) in the Mosimi Depot, Ogun State, has raised alarm over the prolonged fuel scarcity in the southwestern region of the country.
The association has attributed the scarcity to the failure of the Nigerian National Petroleum Corporation Limited (NNPCL) to supply petroleum products, despite receiving payment of over N75 billion since June 2023.
The chairman of IPMAN Mosimi Depot, Otunba Femi Adelaja, disclosed the situation during a media briefing in Abeokuta on Tuesday. He stated that IPMAN members have been struggling to keep their businesses afloat as they await fuel supplies from the NNPCL, for which they had already made a deposit of N75.142 billion several months ago.
Adelaja explained that the payment was made to the NNPCL with the expectation that the petroleum products would be distributed through Lagos Private Depot Owners (PDO). However, the NNPCL has failed to deliver the products, leaving IPMAN members in a difficult financial position, particularly as many of them rely on bank loans to keep their operations running.
“The current fuel scarcity in the Southwest is due to the refusal of the NNPCL management to make petroleum products available to our members, even though we paid for these products three months ago,” Adelaja said. He emphasized that the delay in supplies is causing severe hardship for the public, as petrol shortages have led to long queues at filling stations, higher fuel prices, and increased transportation costs.
IPMAN is now calling on the federal government and key stakeholders in the oil sector to intervene and pressure the NNPCL to release the products. The association believes that the continued withholding of the petroleum products is unjust and could push many of its members out of business.
Adelaja further accused the NNPCL of prioritizing major oil marketers such as Total, OANDO, and Ardova Petroleum over IPMAN members. According to him, these companies receive regular supplies from the NNPCL and then resell the products to a select group of customers, who in turn sell at inflated prices to the public. He expressed concern that this practice is exacerbating the fuel crisis and putting unnecessary financial strain on the citizens.
“It is disheartening that the NNPCL is using the deposits of IPMAN members to run business for their various Mega Stations and to supply major marketers, while our members are left struggling with no products,” he lamented. Adelaja also highlighted that the interest rates on bank loans are further compounding the difficulties faced by IPMAN members as they wait for the NNPCL to fulfill its obligations.
In light of these challenges, IPMAN is appealing to all Nigerians to support their call for immediate action from the NNPCL. The association fears that without intervention, its members will be forced to close their businesses, which would worsen the fuel scarcity and have a negative impact on the economy.
The ongoing fuel shortages have caused widespread frustration across the southwestern region, with motorists and commuters bearing the brunt of the situation. Long queues at petrol stations have become a common sight in many cities, and the price of fuel has continued to rise above the official pump price, leading to an increase in the cost of living.
As the pressure mounts, IPMAN hopes that the federal government and other relevant authorities will take swift action to resolve the crisis and ensure that petroleum products are distributed fairly and promptly to all marketers.
