Thursday, 01 December 2022 06:17

Fuel scarcity is getting worse across the country. IPMAN boss explains why

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National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, has said almost all depots owned by Nigeria National Petroleum Corporation Ltd are not working, hence the persistent fuel scarcity in the country.

Okoronkwo stated this during an interview on Channels TV’s Politics Today on Tuesday.

The IPMAN president said that private depots owners are now responsible for the distribution of the products since the NNPC depots are not working.

He said NNPC had enough stock, but the distribution method was complicating the situation.

He said, “It’s very important for you to know where we belong in the chain. This product (PMS) is the product the government is still paying subsidy. That is to say government brings in NNPC and when this product is brought, remember nearly all the NNPC depots are not working because of vandalism. We have at least 21 that I can count and what happens when they bring the product in, they now begin to put in private depots owners and pay them some charges.

“And when this product is pumped into these depots, the owners claim to have ownership. Remember we control over 80% of the market and the situation where my members cannot easily access this product, they now be made to buy from these private depot owners, a third party. Remember what we get from NNPC is N148.19 but these private depots owners by the time they begin to put their own charges, haring vassals, NIMASA, NPA, we get it N185 to N200.

“Those who have the muscles and everything to buy, they will buy. The product is there it is because of what I have just said. NNPC has enough stock, but because of this distribution something that is why we need to do something.”


Daily Trust