IPMAN Threatens Legal Action Against NNPC Over Hoarding Of Petroleum Products

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Mosimi Depot on Wednesday has threatened to drag  the Nigeria National Petroleum Corporation (NNPC) to court over its refusal to supply its members petroleum products 8 months after payment for the products.

The association said it was left with no other option than to drag the Corporation to court by September next month should NNPC continue to deny its members supplies of the petroleum products earlier paid for through the Lagos DPO between November 2022 and January 2023 when they were due for supplies.

Speaking with journalists yesterday in Abeokuta, the Ogun State capital, IPMA Mosimi Depot chairman, Otunba Femi Adelaja said it was disheartening on the part of the management of NNPC Mosimi Depot to exhibit the traits of a fraudulent organization by deliberately refusing to make supplies available to his members, whose businesses have been surviving on bank loans.

Otunba Adelaja explained that each IPMAN members, who applied for supplies of the petroleum products have had to pay the adjustable sum of N25 million per supply of a 45, 000 liters trailer truck since June when NNPC directed them to do so but till date, are yet to receive anything from the corporation.

“Each IPMAN member had paid the initial sum of N7. 7 million for the usual supply of a 45, 000 litre truck. But after the removal of the subsidy in June 2023, NNPC increased the money to N25 Million per truck and we were asked to balance up. We have complied and each member paid N25 Million which we all paid through the Lagos D.P.O..

“We were, however, surprised to see that NNPC would not give us any supply. Rather, the corporation has been busy using our deposits to run business for their various Mega Stations. They have refused to acknowledge that our businesses have been surviving on bank loans, who would charge interests on whatever amount is released to each IPMAN member”.

Adelaja also called on the Economic and Financial Crimes Commission (EFCC) as well as other relevant anti -graft agencies to quickly wade in into the matter before NNPC would succeed at chasing his members out of business.