N200Bn Debt: IPMAN Threatens Nationwide Shutdown Of Services


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By Sunday Etuka, Abuja

The protracted issues between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have reached advanced stages, with the oil marketers threatening to cripple the supply and sales of petroleum products nationwide if nothing is done urgently to resolve the issues.

In a Communique signed by the Chairman of IPMAN Deport Chairmen Forum, Alh. Yahaya Alhassan, the association also decried the over 500 percent increment on renewal of sales and storage license, therefore, called on President Bola Tinubu to intervene in the matter.

IPMAN lamented what it described as a laidback attitude of the leadership of NMDPRA, and deliberate refusal to offset the over N200 Billion debt owed its members, which it said has led to the deaths of its members and collapse of businesses.

The association noted that the non-payment of the debts has forced its members to completely shut down their businesses and retrenched their employees due to their inability to pay salaries.

It narrated that at a stakeholders’ meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the National Security Adviser (NSA), on the 20th February 2024, the Minister mandated the Chief Authority of NMDPRA, Engr. Farouk Ahmed to clear the entire debt in 40 days.

IPMAN, however, said, the 40 days’ timeline given to the NMDPRA to clear the debt has elapse, “and it is shameful to state that only the paltry sum of N13Billion has been paid, thus going the whole length to ignore our plight without remorse and without recourse to the Honourable Minister’s directive.

“Secondly, we are not happy with the indiscriminate increment in the issuance and renewal of the Sales and Storage License, by the NMDPRA, and the subsequent delays in acquiring the license, which our members have been recently subjected to.

“As IPMAN members we are also calling on President Bola Tinubu, to closely look into this unwholesome figure which is highly detrimental to our business and reverse it forthwith, as it is bound to impact negatively on the masses thereafter.

“We see no reason why there should be an increment of over 500% on the Sales and Storage License by the NMDPRA. This is outright wickedness, and therefore highly detrimental to our businesses.

“We totally reject it. We also hereby call on the federal government of Nigeria to wholly intervene forthwith in these lingering issues between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA).

“We are poised to take far reaching decisions that may cripple the supply and sales of petroleum products across Nigeria, if our demands are not met within the shortest period of time.

“We are appealing to Mr. President, Bola Ahmed Tinubu, to please intervene in this quagmire that we have been subjected to by the NMDPRA.

“We repeat, if our demands are not met within the shortest period of time, we have already put our members on standby across the nation, as law abiding citizens, we are collectively prepared to withdraw our services, close every single outlet, and suspend lifting of products forthwith till our demands are fully met, and the consequences will be terrible.

“As every marketer’s outlet across Nigeria, from the North to the South, and from the East to the West, will be shut down.

“As the Independent Petroleum Marketers Association of Nigeria, we have taken every step in the past to salvage this unfortunate and looming situation, which we know will not augur well for Nigerians, but we are presently left with no option than to go all out in the next few days to address this ugly trend in our own way, which will portend great hardship and danger for Nigerians”, the association warned.


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