Product Supply Failure: IPMAN Threatens Court Action against NNPC

James Sowole in Abeokuta

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Mosinmi Depot, yesterday, threatened to institute court action against the Nigeria National Petroleum Company Limited (NNPCL) over the failure of the corporation to supply products to its members eight months after payment of required amount.

IPMAN also accused the NNPCL of using the money deposited for petroleum products supplies by its members through the Lagos DPO to run its retailing Mega Stations across the South-west at the expense of the bank loans obtained by its members who would need to pay bank interests on such loans.

The association, therefore, threatened to go to court by September, should the NNPC continue to deny its members supplies of the petroleum products they had paid for through the Lagos DPO since November 2022 and January 2023, when they were due for supplies.

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

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 NNPCL directed them to do so but till date, they were yet to receive anything from the national oil company.

Adelaja said, “Each IPMAN member had paid the initial sum of N7.74 million for the usual supply of a 45, 000 litre truck. But after the removal of the subsidy in June 2023, NNPCL increased the money to N25 million per truck and we were asked to balance up.

“We have complied and each member paid the difference, which we all paid through the Lagos D.P.O.

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.