The ongoing fuel scarcity in the South-West region of Nigeria has taken a troubling turn as the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mosimi Depot in Ogun State, issued a stern call to the Nigeria National Petroleum Corporation Limited (NNPCL) to release petroleum products valued at N75.142 billion that were paid for by its members since June....READ THE FULL ARTICLE HERE ▶▶
The delay in supplies has exacerbated the fuel shortage, causing significant disruptions and hardship for residents in the affected areas.
According to IPMAN, the persistent fuel scarcity can be directly linked to the NNPCL’s refusal to deliver the petroleum products despite full payment being made over three months ago.
The association’s chairman, Otunba Femi Adelaja, expressed deep frustration during a press briefing in Abeokuta, Ogun State, highlighting the impact of the NNPCL’s actions on the businesses of its members, many of whom are struggling under the weight of bank loans taken out to secure these products.
Adelaja accused the NNPCL of prioritizing the interests of major marketers such as Total, OANDO, and Ardova, while sidelining IPMAN members. He claimed that the NNPCL has been using the deposits made by IPMAN members to service these large corporations, who in turn resell the products at inflated prices, further compounding the fuel scarcity.
“It’s disheartening to see that despite our members’ significant financial commitments, the NNPCL has chosen to favor a select few at the expense of many,” Adelaja stated.
“Our businesses are on the brink of collapse, and the NNPCL’s actions are making it impossible for us to operate. We are left with no choice but to appeal to the federal government and other stakeholders to intervene immediately.”
The association warned that if the situation is not addressed promptly, the fuel scarcity could worsen, leading to even higher prices and more widespread suffering for the public.
IPMAN also raised concerns that the NNPCL’s current approach could drive its members out of business, creating a monopoly that would further destabilize the already fragile petroleum distribution network in the region.
In response to the crisis, IPMAN is calling on all well-meaning Nigerians to pressure the NNPCL into fulfilling its obligations and ensuring that petroleum products are distributed equitably across all marketers.
The association’s plea underscores the urgent need for transparency and fairness in the distribution of petroleum products, as the current scarcity continues to strain the region’s economy and daily life.
The unfolding situation poses a significant challenge for the federal government and industry regulators, who must now navigate the complex dynamics of fuel supply and demand to prevent further deterioration of the situation in the Southwest.
