Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has given the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) a seven-day ultimatum on unpaid bridging claims, threatening a nationwide shortage of premium motor spirit (petrol) in Nigeria.

On Monday, IPMAN issued a seven-day notice to stop providing services nationwide due to the nonpayment of N100 billion in bridging claims, Leadership reported.

The IPMAN depot chairman released a statement accusing the NMDPRA of disregarding their demands despite assurances given at a stakeholders meeting more than a year ago.

Yahaya Alhassan, the chairman of the IPMAN Depot Chairmen Forum, presented the communiqué in Abuja.

He stated that if the claims are not resolved within seven working days starting from Monday, the organization will stop using its tankers to load and distribute petroleum products.

This implies that if this action is not stopped, fuel supplies across the country would be seriously disrupted.

“One of those promises was made by the NMDPRA, at the stakeholders meeting convened on the eve of the last strike action declared by NARTO.”

The same IPMAN bridging claims were included in the Nigerian Association of Road Transport Owners' (NARTO) requests at the stakeholders meeting before the strike action was canceled.

“However, 40 days have today become months with no hope of our payment,” it lamented.

Because of this outstanding debt, the nine Northern depots—Jos, Gusau, Minna, Suleja, Kaduna, Kano, Gombe, Yola, and Maiduguri—have been totally grounded.

“For the avoidance of doubt, it is imperative to state again that this debt being owed us are monies belonging to marketers, and which were deducted from us at the point of payments for products, in order to settle our bridging allowances.

It stated that another worrisome development is the NMDPRA’s imposition of several abnormal levies on members.

“Chief amongst them is the imposition of a five per cent commission accruable to them at the sale of any petrol station outlet in Nigeria. Tell me, when has the NMDPRA turned herself into real estate agents; collecting a commission on sales of Retail Petrol Outlets? There is no gainsaying the truism that the downstream retail industry is an ever evolving one.

It added

“We will not hesitate to immediately take actions in due course if our demands are not met immediately beginning from today Monday 24th February 2025.

Meanwhile, on Thursday, February 20, 2025, the landing cost of petrol changed to N928.99 per litre.

Dealers said the cost factors in various expenses such as shipping, import duties, and exchange rates were responsible.

Data from the Major Energy Marketers Association of Nigeria (MEMAN) disclosed that the on-spot estimate of import duty parity into tanks was N928.00 per litre, an increase of N1 from the N927.27 quoted on Friday, February 7, 2025.

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Source: Legit.ng