The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked to the federal government to fix hailing refineries across the country before considering removal of the subsidy on petroleum products.
IPMAN, a major player in the downstream sector of the oil and gas industry, also commended the suspension of fuel subsidy removal.
President of IPMAN, Alhaji Debo Ahmed, in a statement made available to Blueprint Wednesday in Abuja, gave the commendation.
Minister of Finance, Budget and National Planning, Zainab Ahmed and her counterpart in the Ministry of Petroleum Resources, Timipre Sylva had on Monday at a meeting with President of the Senate, Ahmad Lawan held at the National Assembly disclosed that Nigerians would continue to enjoy subsidy till the end of June as they noted that there was provision for subsidy payment in the 2022 Budget till end of June.
The IPMAN President also appealed to the federal government to ensure availability of petroleum products to the Nigerian National Petroleum Company Limited depots across the country as he noted that selective supply to private depots is “making it impossible for the product to be sold at the government upper price band.”
Ahmed said his association demand for payment of oustanding Bridging Claims owed marketers by the defunct Petroleum Equalisation Fund now operating under the name, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
His statement read in part: ‘The leadership of Independent Petroleum Marketers Association of Nigeria (IPMAN) commends the Federal Government for the suspension of the removal of fuel subsidy.
“We reiterate our position that the four nations’ refinery be repaired and allow to function optimally before the removal of fuel subsidy.
“We also use this opportunity to call on the federal government to resume the supply of petroleum products to NNPC depots nationwide as against the selective supply to private depots making it impossible for the product to be sold at the government upper price band.
“Our huge funds are tied up with PPMC Ltd, a subsidiary of NNPC, where members pay for NNPC products supplied to their depots.
“We are equally pleading that marketers transportation claims be paid to allow members remain afloat in business.”
