IPMAN Supports NNPC On Recovering Marketers’ Debts

The North West wing of the Independent Petroleum Marketers Association of Nigeria (IPMAN), said it supports the Nigerian National Petroleum Corporation (NNPC)’s move of not allocating petroleum products to any depot owner who fails to settle debts owed the Petroleum Equalization Fund (PEF).

IPMAN’s North-West region Chairman, Alhaji Bashir Dan-Mallam, who said this recently during a briefing in Kano, noted that the directive issued by NNPC is being received by the association as a welcome development.

He further called on the facility owners to as a matter of urgency comply with the NNPC directive and immediately settle the backlog of the funds they owe PEF for onward disbursement to independent marketers, stressing that if the funds are promptly settled by the facility owners, it will ease the financial difficulties being faced by marketers in the country.

“I urge marketers to be honest and transparent in managing the fund. This fund will assist us in complementing President Muhammadu Buhari’s Next Level agenda,” he said.

While commending the good gesture by the NNPC’s Group Managing Director, Mele Kyari, the chairman revealed that the bridging and equalization allowances are contributions from marketers and not government’s grants or subsidy.