IPMAN Issues Ultimatum To NNPC: Sell Fuel At Dangote Rates Or Refund Payments

IPMAN Issues Ultimatum To NNPC: Sell Fuel At Dangote Rates Or Refund PaymentsThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian National Petroleum Company (NNPC) Limited to sell Premium Motor Spirit (PMS), commonly known as petrol, to its marketers at the same rates offered by Dangote Petroleum Refinery. The association also demands a refund of the funds owed to oil marketers, which have been withheld by NNPC for the past three months.....KINDLY READ THE FULL STORY HERE▶

During an appearance on Channels TV’s Sunrise Daily program on Thursday, IPMAN’s national president, Abubakar Shettima, voiced concerns about the financial strain caused by the delayed refunds, urging NNPC to take prompt action.

Shettima stated, “Our major challenge now is that we have an outstanding debt with the NNPC, and the company has been collecting products through Dangote Refinery at a lower rate—less than ₦900. Our money has been with them (NNPC) for almost three months.”

He highlighted that the national oil company has directed IPMAN members to purchase petrol at rates of ₦1,010 in Lagos, ₦1,045 in Calabar, ₦1,050 in Port Harcourt, and ₦1,040 in Warri.

Shettima expressed dissatisfaction with NNPC’s position that marketers should buy petrol directly from Dangote Refinery. “We have a problem with that because we already purchase products from them. When they raised the prices, they told us to pay more than what Dangote is charging them,” he explained.

“That’s why we have requested that they return our funds to our banks, so we can directly buy from Dangote Refinery if that is the case,” he added.

Shettima also noted that NNPC does not sell on credit, stating, “We buy products ahead of loading. Whenever they have products, they will call us to collect them.

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