IPMAN threatens to disrupt petrol supply over unpaid N200bn bridging claims

By Innocent Raphael

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to disrupt petrol supply in response to an alleged non-payment of over N200 billion in bridging claims.

According to IPMAN, the decision comes amidst a petrol scarcity that has resulted in higher transport costs nationwide.

During a press conference, Oliver Okolo, the association’s unit chairman and spokesperson for Aba Depot, stated that the debt is owed by the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA).

He further explained that bridging claims cover the expense of transporting fuel from depots to designated areas to maintain consistent pump prices across Nigeria.

Stating that despite a directive from Minister of Petroleum Resources (Oil), Heineken Lokpobiri’s for payment, the NMDPRA has yet to settle the N200 billion debt, which has been accumulating since September 2022.

Okolo emphasized, that the association was prepared to make significant decisions that could severely impact the distribution and retail of petroleum products nationwide unless its demands are promptly addressed.

He also attributed the loss of lives among IPMAN members and the regrettable closure of business enterprises of the others to the NMDPRA’s procrastination in settling the debt.

“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.

“Consequently, also, the banks have taken over the business premises of many of our members.

“As indigenous organisations, and Depot Chairmen, we are unhappy that rather than receive support from the government to boost our businesses, we are being discouraged, by the head of NMDPRA,” he stated.

“It is noteworthy to recall and state here that at a stakeholders meeting held on the 20th of February, 2024 with Mr. Heineken Lokpobiri, the Honourable Minister of Petroleum Resources (Oil), and the NSA Nuhu Ribadu, Engr. Farouk Ahmed, the Chief Authority of NMDPRA, was mandated by Mr. Heinehken Lokpobiri to clear the entire debt in 40 days,” he added.