Petroleum Marketers Give Reason For Product Scarcity, Claim Its Members Paid N90bn But Got Nothing From NNPC

The Depot and Petroleum Products Marketers Association (DAPPMA) has accused the Nigerian National Petroleum Corporation (NNPC) of failing to supply products to its members despite paying the sum of N90 billion to the agency.

The DAPPMA members denied that they owed the oil firm N26.7 billion.

A statement from DAPPMA and published by The Punch states that its members made the payment in the past one month for petrol supply but had not received any cargo from the Petroleum Products Marketing Company, a subsidiary of NNPC.

The statement issued by Olufemi Adewole, the executive secretary for DAPPMA, said: “It is an undisputable fact that DAPPMA members have paid for petrol supply (with bank funds) for over one month, the value of which is in excess of N90 billion, yet PPMC/NNPC had no cargo to allocate to them.

“As such, how can we be held responsible for hoarding?

“PPMC/NNPC does not transact business with DAPPMA members on credit, hence we are not aware of any indebtedness to PPMC/NNPC by our members.

“We again reject any attempt to blame marketers for the shortfall in supply, as it is not our making since NNPC has been the sole importer since October 2017.”

According to Adewole, marketers had sacrificed to keep supplying the country with fuel despite the over N600 billion debt owed DAPPMA members and over the N800 billion owed marketers as a whole by the federal government.

“The essence of our initial press release was to shed light on salient issues surrounding the shortfall in current petrol supply which is presently solely handled by the NNPC. It was not an attempt to join issues with PPMC/NNPC with whom we are partners.

“NNPC’s view of our press release stating our side of the story and seeking to defend marketers for the very first time against the unwarranted accusations of hoarding and profiteering is rather unfortunate,” the statement said.

The association however assured that its members would continue to do their best.