IPMAN: Borno, Yobe laments on N6 billion unpaid bridging
The Borno and Yobe state chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has lamented on the inability of the Federal Government to pay the N6 billion outstanding bridging claims by the Petroleum Equalization Fund, PEF.
The association said, refusal to pay this huge amount of money has forced over 380 marketers out of business, as most cannot transport, dispense sales and services.
Read Also: COAS Explains His Strategy To Defeat Boko Haram Terrorists, Bandits
This was disclosed by the Borno IPMAN Chairman and Secretary, Alhaji Mohammed Kuluwu and Alhaji Abbas Yakubu at a press conference which took place at its office, opposite Maiduguri NNPC Depot.
The Secretary, Alhaji Yakubu lamented that, apart from lackaisadical attitude of the federal government towards oil reforms, and the inability of the PEF to settle marketers their entitlements, the recent increase in the pump price of petroleum, more especially PMS (petrol) and AGO (Diesel) is uncalled for, particularly to traumatized citizens of Borno who have spent over 11 months without electricity due to vandalization of electric transmission towers by Boko Haram extremists.
However, IPMAN reiterated that the refusal of the PEF to increase the freight rate of the transportation, in accordance with the present reality and also non-payment of N6 billion bridging claims for the past seven months, has almost crippled their hard-earned capital which they used to order the product.
“IPMAN from Borno and Yobe chapter had a meeting at our Secretariat today. We deliberated on some serious issues militating against our smooth operation of Petroleum Transportation, Dispensing sales and Services.
“Most worrisome, is the recent increase on pump price of petroleum, more especially PMS (petrol) and AGO (Diesel) which is very uncalled for, particularly to traumatized citizens of Borno who have spent over 11 months without electricity due to vandalization of electric transmission towers by Boko Haram terrorists.
“The price was initially N148.11 for PMS per litre (NNPC/PPMC) and N149 for private depots. But suddenly, the private depot increased their price to N159 per litre of PMS and AGO which stood at N240 per litre is now sold at N360. This was compounded by the centralization of the products via the Customer Express Services (CESs) which makes the product distribution extremely cumbersome and very difficult for a marketer to be allocated the product.
“More so, transportation of the products from Southern Depot to the North have become unprofitable and undesirable, as the price of Deisel has increased to an unimaginable level, despite the high cost of all spare parts and lubrication as well as logistics involved.
Read Also: 2 men arraigned for allegedly abducting, defiling physically…
“The price was initially N148.11 for PMS per litre (NNPC/PPMC) and N149 for private depots. But suddenly, the private depot increased their price to N159 per litre of PMS and AGO which stood at N240 per litre is now sold at N360. This was compounded by the centralization of the products via the Customer Express Services (CESs) which makes the product distribution extremely cumbersome and very difficult for a marketer to be allocated the product.
“More so, transportation of the products from Southern Depot to the North have become unprofitable and undesirable, as the price of Deisel has increased to an unimaginable level, despite the high cost of all spare parts and lubrication as well as logistics involved.
