IPMAN Threatens Shutdown as NMDPRA Fails to Pay N200 Billion Bridging Debts


IPMAN Threatens Shutdown Over Unpaid Debts as Petrol Scarcity Persists

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Despite assurances from NNPC Limited, petrol scarcity lingers across the country. IPMAN, the Independent Petroleum Marketers Association of Nigeria, has issued a warning to shut down operations due to outstanding bridging debts totaling about N200 billion owed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Queues persist at filling stations in the Federal Capital Territory and Abuja city center, with some stations remaining closed. Meanwhile, black market vendors continue to profit, selling petrol at inflated prices of N1,200 per litre.

IPMAN members, represented by the Depots Chairmen Forum, expressed frustration over the NMDPRA’s failure to settle outstanding debts despite directives from the Minister of State for Petroleum Resources. Only a fraction of the owed amount, approximately N13 billion, has been paid, exacerbating the financial strain on marketers.

In addition to the unpaid debts, IPMAN voiced concerns over the arbitrary increase in fees for Sales and Storage Licenses by the NMDPRA. The drastic 500 percent hike in license fees has raised operational costs for members, prompting calls for government intervention to reverse the decision.

Alhaji Yahaya Alhassan, Chairman of the IPMAN Depots Chairmen Forum, urged the Federal Government to intervene and ensure equitable access to petrol by independent marketers. Currently, independent marketers face restrictions, being compelled to patronize private depots instead of NNPC Limited depots.

IPMAN emphasized that the unresolved issues, including the unpaid debts and licensing fees, threaten the supply and distribution of petroleum products nationwide. The association warned of potential disruptions to operations if their demands are not addressed promptly.

The group reiterated that the outstanding debts represent funds collected from marketers and deducted for transport fares, underscoring the urgency for the NMDPRA to settle its financial obligations to IPMAN members.

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