The Independent Petroleum Marketers Association of Nigeria (IPMAN) is demanding a refund of nearly ₦15 billion from the Nigerian National Petroleum Company Limited (NNPCL). IPMAN’s president, Abubakar Garima, explained that the amount represents payments made for petroleum products that have not been delivered due to the recent fuel price hikes following full deregulation.
IPMAN claims that the NNPCL is withholding their funds, asking marketers to pay the difference after the price adjustment instead of delivering the products already paid for. Garima highlighted that IPMAN members have not loaded a single truck since the price increase. The association is now demanding either a refund or that they be allowed to purchase petrol directly from other suppliers, such as the Dangote Refinery.
The situation is part of the broader challenges faced by the downstream petroleum sector in Nigeria following the removal of fuel subsidies and the shift to full deregulation.
