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FUEL SCARCITY: NNPCL’s alleged ₦15bn debt to IPMAN sparks economic fears
The ongoing fuel scarcity in Nigeria has taken a dire turn, with the Independent Petroleum Marketers Association of Nigeria (IPMAN) revealing that the Nigerian National Petroleum Company Ltd. (NNPCL) owes them a staggering ₦15 billion.
Abubakar Garima, National President of IPMAN, made this shocking disclosure on Channels TV Sunrise Daily, on Thursday.
“NNPCL is owing IPMAN almost ₦15 billion. We have not loaded a single truck since the NNPCL increased its pump price,” Garima stated.
“It has refused to give us the product we paid for and is asking us to complete the difference. Our money has been with the NNPCL for almost three months now.”
Read Also: Minister urges patience as petrol price hike bites, says ‘give Tinubu time’
This development has severe implications for the economy. The scarcity of fuel will lead to increased transportation costs, which will, in turn, drive up prices of goods and services. This will exacerbate the already high inflation rate in Nigeria.
Garima emphasized that IPMAN is seeking a resolution, stating, “Either they sell for us at the same rate they are getting the product from Dangote Refinery or refund us so we can buy directly from Dangote Refinery.”
As Nigeria teeters on the brink of economic chaos, the government must intervene to resolve the fuel scarcity. Failure to act will exacerbate the suffering of citizens and undermine the nation’s economic stability.
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