IPMAN Wants DPR, NNPC to Sanction Depot Operators for Profiteering

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The Independent Petroleum Markers Association of Nigeria (IPMAN) has urged the Department of Petroleum Resources (DPR) and the Nigerian National Petroleum Corporation (NNPC) to clamp down private depots selling petrol above ex-depot price of N 133.28k.

The western zonal chairman of the association, Mr. Debo Ahmed told journalists in Lagos at the weekend that the shutdown of private depots selling petrol above government approved price became necessary against the back drop of the association’s threat to withdraw its services across Lagos State and Ogun State as from December 11.

Ahmed alleged that most private depots owned by Depot and Petroleum Products Marketers Association (DAPPMA) in Apapa were selling petrol between N141 to N143 per litter as against Ex-depot price N 133.28k
He urged DPR, NNPC and all other regulatory agencies saddled with monitoring of depot petroleum pricing to live up to its responsibility by shutting down any private depot selling products above government approved prices.

“The increase in price of petrol by depots is killing our members because most marketers will be forced to shut down their stations if the situation continues. The DPR and NNPC seems to be helpless in this situation where the private depots sales petrol above. Many of IPMAN members cannot buy the petrol from NNPC depots because the product was not sufficient and not all NNPC depots that are working. Ore, Ilorin are not working, while Lagos and Ibadan are doing partial loading,’’ he said.

Debo said the insufficient petrol at NNPC depots had forced most marketers to buy product from private depots.
He alleged that the private deports are not invoicing marketers directly, adding that they give way bill which the prices are not indicated, to cover up their acts of profiteering.

Ahmed charged the authorities to urgently look into the issues to avert its members’ threat close down their over 1,200 filling stations, which might lead to fuel crisis during the yuletide festivities.
But in a swift reaction, the Executive Secretary of Depot and Petroleum Products Marketers Association (DAPPMA), Mr Olufemi Adewole denied the allegation that the depot owners were selling petrol above the ex-depot price approved by the government.

“Our members are selling petrol at government approved price, but we should also note that not all depot owners that are DAPPMA’s member. If other non-DAPPMA members sell above ex-depot price, we don’t have right over them. IPNAN cannot just make blanket accusation of DAPPMA selling above ex-depot price. There is no truth in what they are saying to the best of my knowledge; we are selling at government approved price, even though we are losing money. The challenge we are even facing now is that banks are not given us money to buy product because government owing us and they are yet to pay. But few of our members are bringing in product and buying from NNPC because they are the sole importer,’’ Adewole explained.