Nigerian oil marketers ready to resume petrol importation

Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPMA), and Independent Petroleum Marketers Association of Nigeria (IPMAN) have indicated interest to resume importation of petroleum products again after several months of abstinence.

The three major oil marketers associations in Nigeria met with the Nigerian National Petroleum Corporation (NNPC), Petroleum Equalisation Fund (PEF) and Petroleum Products Pricing Regulatory Agency (PPPRA) at the NNPC headquarters recently.

As reported, the NNPC has for several months remained the major importer of petrol into the country because of the inability of oil marketers to access foreign exchange at affordable rates to import the products.

One of the marketers who is a member of MOMAN said that members of the association had been distributing products they lifted from the NNPC.

It was revealed that the major marketers and IPMAN have reconciled their lingering leadership troubles and are ready to work together subsequently to ease the burden off the NNPC.

According to an anonymous source: “The burden on the NNPC is huge, although they have been shouldering it for long. However, can it last forever? So, that is one reason for the meeting.”

“After the meeting with IPMAN, the GMD and the management team went into a long session with MOMAN and DAPPMA. The meeting was centred on products importation, distribution and retail outlets.”

As reported in THISDAY, the Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ndu Ughamadu, confirmed that the corporation assured the marketers that they will start the importation of petroleum products soon.

The commencemenet date for the oil dealers’ full importation of the petroleum products into the country has npt been confirmed.

“The government has also been working hard to sort out the PEF issue with marketers, which it has started paying. The Executive Secretary of PEF was also present at the meeting, a representative of the PPPRA was at the meeting too,” Ughamadu stated.

According to him: “The theme of the meeting also looked at the dynamics of supply and demand in the country and the lifting of products from our various depots and tank farms, as well as to supplement the efforts of the NNPC on importation particularly.”

Ughamadu said on the resurgence of fuel queues in some petrol service stations in Abuja that the recent threat by IPMAN to embark on strike was responsible for the development.

It was also revealed that the IPMAN will no longer embark on its proposed on strike while NNPC claimed that even if otherwise there was adequate stock of petroleum products to serve the market.



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