The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised alarms over a severe shortage of Premium Motor Spirit (PMS), commonly known as petrol, amid a nationwide scarcity.
IPMAN, which represents over 3,000 members and controls the majority of filling stations across the country, has expressed frustration over the lack of adequate supply from the Nigerian National Petroleum Company Limited (NNPCL), the sole importer of petroleum products.
Engr. Shina Amoo, Chairman of IPMAN’s Ore Depot, discussed the issue on Channels Television’s “Morning Brief”, revealing that NNPCL has failed to supply enough fuel to meet the needs of its members for the past three years.
He stated, “There is no supply anywhere. The only available supply is not well distributed.
We used to enjoy a 70/30 supply arrangement based on our strength, but now, IPMAN is barely considered in supply distribution.”
Amoo explained that most independent marketers are forced to purchase fuel at inflated prices from private depots, with costs ranging from ₦750 to ₦850 per litre, instead of the official rate of ₦560 from NNPC.
He noted that even when payments are made to NNPC, it often takes months to access the product, making it unprofitable.
He further criticized the NNPCL’s distribution practices, highlighting that the abandonment of a fair distribution pattern has marginalized IPMAN, leading to increased costs and inefficiencies in the market.
Amoo pointed out that the removal of fuel subsidies and NNPCL’s role as the sole importer have exacerbated the situation, calling for the elimination of corruption in the downstream sector to help stabilize prices.
Amoo concluded by stating that IPMAN members are facing significant challenges in sourcing and selling fuel, with the current system failing to meet their needs or the needs of the Nigerian public.
