Sell Petrol To Us Below N900 Or Refund Our N15bn, IPMAN Tells NNPC

The National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Shettima, has urged the Nigerian National Petroleum Company Limited (NNPC) to sell Premium Motor Spirit (PMS), commonly known as petrol, to its marketers at the same rates offered by Dangote Petroleum Refinery.

Shettima, while speaking Thursday , also demanded a refund of over N15bn owed to the oil marketers, which have been held by NNPC for the past three months.

He stressed the financial strain that the prolonged delay in refunds had placed on petroleum marketers, urging the NNPC to take immediate action.

“Our major challenge now is that already, we have an outstanding debt by the NNPC and the company collected product through Dangote refinery at a lower rate — not up to N900.

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“Presently, our money has been with them (NNPC) for almost three months.

“But with the recent changes, we have requested that they sell to us at Dangote price or return our money. That’s the current situation and is the reason for the scarcity. We started negotiation yesterday,” he said.

According to him, the national oil company has directed the IPMAN members “to buy the product from them at the rate of N1,010 in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri”.

Expressing displeasure at the NNPC’s stance that marketers should buy petrol directly from the Dangote refinery, Shettima said: “We have a problem with that because already, we buy products from them.

“So when they made this increment, they told us to add money and buy above what Dangote is selling products to them.

“That is the reason we told them to return our monies to our banks so that we can go directly to Dangote refinery and buy, if that’s the case.”

“The NNPC does not sell on credit and we buy products ahead of loading. Anytime they have products, they will call us to collect our products.”