Friday, April 19, 2024
MARKET UPDATE
Advertisement Topt

TheCable

Advertisement lead

Fuel scarcity looms in south-west as IPMAN threatens to ‘shut down’

Fuel scarcity looms in south-west as IPMAN threatens to ‘shut down’
March 04
07:47 2017

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the unfriendly policies of the Nigerian National Petroleum Corporation (NNPC) will soon lead to fuel scarcity in six states.

The six states are Oyo, Osun, Lagos, Kwara, Ondo, and Ekiti.

The association said the NNPC was collecting unwarranted levies from its members and as such, threatened to shut down its stations.

IPMAN urged the national assembly to intervene and “save the general public from undeserved pains associated with fuel scarcity”.

Advertisement

Debo Ahmed, western zone chairman of IPMAN, made this known on Friday while addressing reporters in Ilorin, Kwara state.

“Labour unions- Nigeria Labour Congress (NLC), Trade Union Congress (TUC), NUPENG and PTD should not fold their arms while the downstream sector is being thrown into chaos,” he said.

“It is unfortunate that all the five depots in the system 2B including the largest depot at Ibadan, which can store 120 million litres have been grounded for the past two years. With all the five depots grounded, marketers are tied to private depots in Apapa where they now serve the general public.

Advertisement

“In the past, pipelines have been managed and secured by the depot stakeholders which are being financed by marketers.

“All these contributions are not being taken into consideration in the scheme of things. Marketers are left at the mercy of NNPC. If people buy kerosene at N400 and above, marketers should not be blamed but pitied because if the depots are working, prices will definitely come down.

“As if what NNPC has been doing is not enough, it came out with a memo on January 11, this year for marketers to renew their Bulk Purchase Agreement (BPA) at N125,000 per year for five years which translates into about N2 billion to cover NNPC/PPMC incidental expenses.

“Several attempts have been made to dialogue with NNPC/PPMC management on this issue and availability of products in our depots but all to no avail; that is why we decided to inform the general public on this before we shut down our stations.

Advertisement

“It is important to let people know that NNPC/PPMC has observed BPA in breach. In 2001, the idea was brought up by NNPC but upon discussion, it was dropped when they realised it was improper.”

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

Tags

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.