By Atoyebi Nike
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Eastern zone, has raised concerns over an alleged N5 billion financial crisis affecting its members due to unreleased payments by NNPC Retail Ltd.
In an open letter signed by Zonal Chairman Prince Bobby Eberechi Dick and Zonal Secretary Emmanuel Inimgba, IPMAN said the unpaid funds, which marketers deposited into the NNPC Retail portal over a year ago, have pushed many members to the edge of collapse. Some marketers have reportedly lost their properties after defaulting on loans secured to make those payments.
The association called on the Nigerian National Petroleum Company Limited (NNPC Ltd) to urgently reopen key depots in Aba, Enugu, and Makurdi to ease product distribution in the East and reduce financial strain on independent marketers.
IPMAN also congratulated the newly appointed NNPC Ltd Group Managing Director, Bayo Ojulari, expressing confidence that his leadership will strengthen the downstream sector. The group commended recent reforms that have improved product accessibility and reduced the burden of long-distance trips to Lagos for fuel procurement.
