IPMAN Asks for N15 Billion Refund from NNPC After Petrol Price Changes

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is asking for a N15 billion refund from the Nigerian National Petroleum Company Limited (NNPCL). This request comes after the government stopped controlling the price of petrol and allowed NNPC to stop being the only buyer of Dangote Refinery.

Alhaji Abubakar Maigandi Shettima, President of IPMAN, stated in Abuja that if NNPC charges more than Dangote Refinery, it should give back the money paid by independent marketers. In an interview with Channels TV, Shettima complained that NNPC was asking for more money from marketers even though they hadn’t received the petrol they paid for.

“It’s wrong for NNPC to ask for more money after holding onto our payments for months without giving us the petrol,” Shettima said. He explained that marketers have been unable to get petrol since NNPC raised its prices, leaving them in a tough spot.

Shettima said they had paid nearly N15 billion, but after three months, they still hadn’t received the petrol. “Now, they want us to pay the difference,” he added, showing how hard it has been for marketers.

He suggested that NNPC should either sell petrol at the same price as Dangote Refinery or return the money so marketers can buy directly from the refinery. “They told us to pay more than what Dangote is selling it for. That’s why we want our money back, so we can buy directly from Dangote if that’s the case,” he explained.

This request comes as the industry adapts to a market where prices are not controlled by NNPC anymore, and marketers want to buy petrol on their own terms. Shettima pointed out the difficulties in getting petrol, “Since the price increase, we haven’t been able to load a single truck because we need to pay upfront, and our money is already with NNPC. They won’t let us load. They told us to make up the price difference, and it’s not easy because there are steps we have to follow.”

Meanwhile, the Federal Government has said it’s not responsible for the recent rise in petrol prices, blaming global market changes instead. The Minister of Information and National Orientation, Mohammed Idris, told reporters that NNPC set the prices based on current market conditions, not government orders.

Idris also mentioned that the price increase was due to external issues like the ongoing conflicts in the Middle East, which affect market prices. He assured the public that although prices are high now, they should come down and stabilise in the future.