By John Ikani
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a warning of potential closure for its outlets nationwide due to outstanding bridging claims totalling over N200 billion owed to its members.
The warning came through a joint communique signed by Yahaya Alhassan, Chairman of IPMAN Depot Chairmen Forum, and Mazi Okolo, Unit Chairman of Aba Depot, on Tuesday.
It comes amidst a widespread scarcity of petroleum products across the nation, exacerbating the country’s cost of living crisis.
Recent weeks have seen fuel shortages in major cities, severely impacting businesses.
According to the association, the inaction of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) regarding the debt owed to its members has caused distress and depression among marketers.
They attribute the issues to deliberate delays in settling the debt, resulting in the closure of businesses and even loss of lives among their members.
“We repeat, if our demands are not met within the shortest period of time, we have already put our members on standby across the nation,” the communique stated, stressing the readiness of IPMAN to suspend services, close outlets, and halt product distribution until their demands are addressed.
“Despite previous efforts to resolve the situation, including engagement with government officials, the association feels compelled to take drastic action to avoid further hardship for Nigerians.
“Some members have already ceased operations and laid off employees due to financial constraints.”
IPMAN went on to express disappointment with the NMDPRA’s handling of the situation, particularly its failure to fulfil commitments made during previous meetings.
They highlighted the impact on members’ ability to meet financial obligations and the subsequent takeover of businesses by banks.
The association called on President Bola Tinubu to intervene urgently, describing the situation as detrimental to their business and potentially harmful to the masses.
They criticized the significant increase in Sales and Storage Licence fees imposed by the NMDPRA, labelling it as unjust and damaging to their operations.
“We are merely asking for the return of our monies that are in the purse of the NMDPRA,” the statement emphasized, adding that swift government intervention will resolve the ongoing dispute and prevent further disruption to petroleum product supply across Nigeria.
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