The Independent Petroleum Marketers Association of Nigeria has declared that it would shut down the 30,000 stations operated by IPMAN members across the country if the Federal Government fails to pay the N200bn it owes marketers.
This disclosure was made in a communiqué issued in Abuja by the Chairman of IPMAN Depot Chairmen Forum, Yahaya Alhassan, over the non-payment of marketers’ bridging claims, according to The Punch.
IPMAN particularly said the Nigerian Midstream and Downstream Petroleum Regulatory Authority, an agency of the Federal Government, had refused to offset the debts, that had continued to pile up since September 2022.
IPMAN controls over 30,000 filling stations in Nigeria.
Commenting on the development, Alhassan said the consequences of the failure by NMDPRA to pay the N200bn “will be terrible, as every marketer’s outlet across Nigeria, from the North to the South, and from the East to the West, will be shut down.”
In addition, he said, “As IPMAN, we have taken every step in the past to salvage this unfortunate and looming situation, which we know will not augur well for Nigerians, but we are presently left with no option than to go all out in the next few days to address this ugly trend in our way, which will portend great hardship and danger for Nigerians.”
The IPMAN official stated that the Chief Executive of NMDPRA, Farouk Ahmed, was mandated by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, with the National Security Adviser, Nuhu Ribadu also present to clear the entire debt in 40 days at the stakeholders meeting held on February 20, 2024.
He explained “However, today we have crossed the 40 days time-lapse given to the NMDPRA to clear the debt, and it is shameful to state that only the paltry sum of N13bn has been paid, thus going the whole length to ignore our plight without remorse and recourse to the minister’s directive.
“Before now, we had taken the honourable path to continually seek an explanation from the NMDPRA on why it has blatantly refused to offset the remaining debt, but we have ceaselessly met brick walls.”
He said IPMAN was saddened and troubled by the nonchalant attitude of NMDPRA leadership as regards its members’ businesses, arising from NMDPRA’s deliberate delay and refusal to offset the debt of over N200bn.
“This has consequently led to the deaths of many of our members and the unfortunate collapse of their businesses. It is also disheartening to note that some of our members have completely shut down their businesses and retrenched their employees as we are no longer able to pay salaries.
“As businessmen and women, our members acquired bank loans to keep their fuel retail outlets running daily across the nooks and crannies of Nigeria, to serve the teeming population of Nigerians.
“However, it is demoralising to know that many of our members have gone bankrupt and have become financially insolvent as a result of their inability to meet their financial obligations to their banks, arising wholly from their inability to get their monies from the NMDPRA,” Alhassan stated.
He pointed out that Consequently, banks have taken over the business premises of the majority of its members.
Meanwhile, When contacted, NMDPRA said “Not everyone is paid at the same time, rather the payment process is an ongoing thing,” a spokesperson for the agency, Seiyefa Osanebi stated.
