Business

IPMAN Claims NNPC Owes Nearly N15 Billion

Published by Tope Fakinlede on October 11th, 2024.

IPMAN Claims NNPC Owes Nearly N15 Billion

Abubakar Garima, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has revealed that the Nigerian National Petroleum Company Limited (NNPCL) owes petroleum marketers close to N15 billion.

During an appearance on Channel TV’s Sunrise Daily, Garima explained that IPMAN members have not loaded any trucks since NNPCL raised its pump prices.

When asked about the outstanding debt, he stated, “It’s almost reaching N15 billion. Our funds have been with NNPCL for nearly three months, and they have not provided us with the products we paid for. They are now asking us to cover the price difference.”

Garima insisted that NNPCL should either sell the products at the same rate they acquire them from Dangote Refinery or issue refunds so that marketers can purchase directly from Dangote.

Previously, FIRST CLASS GISTS reported that despite NNPCL starting to load Premium Motor Spirit (PMS) from Dangote Petroleum Refinery, many filling stations across the country are still without supply.

Additionally, FIRST CLASS GISTS noted that in its independence message on October 1, 2024, IPMAN urged the Federal Government to permit its members to source petroleum products directly to alleviate the ongoing challenges in the sector.