•IPMAN threatens shutdown over N200bn debt
By Adewale Sanyaolu
As Nigerians groan over the persisting fuel scarcity and its devastating effects on the economy, the Major Energies Marketers Association of Nigeria (MEMAN) has assured that 300 million litres of Premium Motor Spirit (PMS) popularly called petrol is being expected this week.
At a media briefing held via Zoom yesterday, Chairman of MEMAN, Mr.Huub Stockman, said eight vessels laden with petrol will deliver the 300 million litres of petrol.
‘‘Our members in Apapa and other locations in Lagos are taking product from eight vessels this week with over 300 million litres of PMS, well above our normal levels. We are actively coordinating with our member companies through swaps and other supply arrangements to ensure member stations remain stocked.
Stockman, who doubles at the Managing Director of NNPC Limited Retail outlet, cleared the air that there are no plans by the company to increase the pump price of petrol as being speculated in some quarters.
He added that MEMAN depots will extend their loading times to ensure it loads out as much as they can, including tomorrow the May 1, 2024.
MEMAN said it deeply empathizes with Nigerians facing the challenges occasioned by the current unavailability of PMS and the resulting queues at many retail outlets. We can see the frustration.
Also speaking, the Chief Executive Officer (CEO) of MEMAN, Mr. Clement Isong, said a situation whereby the Nigerian National Petroleum Company (NNPC) Limited remained the sole importer of petrol was not good for the sector.
He reiterated his earlier position that the sector be opened up to allow other private sector players to compete, saying such would open up the downstream and allow healthy competition.
In a related development, the Independent Petroleum Marketers Association of Nigeria(IPMAN) said on Tuesday that they will stop the supply of petrol, if the federal government fails to pay the N200 billion outstanding bridging claims owed them.
In a communique issued by the IPMAN Depot Chairmen Forum in Abuja on Tuesday, and read by the Chairman, Aba Depot, Mazi Oliver Okolo, the association said the withdrawal of service will start anytime from now, following the expiration of the 40-day grace period given after a meeting with the Minister of Petroleum Resources (Oil), Heineken Lokpobiri in February 2024, where the minister directed the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA) to pay off the outstanding bridging claims.
Okolo said NMDPRA had failed to pay the N200 billion debt despite a directive from the Minister.
“We have watched with apprehension also, the unpatriotic attitude of the leadership of the NMDPRA to offset this debt that has been accrued to us since September 2022. 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.
He said that only N13 billion had been paid to their members, and that the unpaid claim had crippled their businesses.
Meanwhile, fuel queues across the Lagos metropolis appear to have defied all solutions as motorists continue to battle the acute shortage of the product.
In Ogba, Alausa, Victoria Island, Isolo, and Ikeja, the situation remained the same as long queues of vehicles in search of the commodity stretched several meters and further compounding the traffic chaos.