NNPC accuses oil marketers of lying, owing N27bn 

NNPC accuses oil marketers of lying


The Nigerian National Petroleum Corporation (NNPC) on Wednesday accused oil marketers under the aegis of Depot and Petroleum Products Marketers Association (DAPPMA) of distorting the facts in its claims that its members’ tanks are empty and are not being supplied Premium Motor Spirit (PMS).

The NNPC, in a statement in Abuja, signed by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, described DAPPMA’S claims as unfortunate, while it stated that it had continued to supply the marketers huge quantity of the product despite the group’s N26.7 billion debts to its subsidiary, the Petroleum Products Marketing Company (PPMC) as at December 21, 2017.

Ughamadu further accused DAPPMA of refusing to resume fuel import, despite the concession granted the group by the Federal Government to obtain foreign exchange at the official rate of N305 to a dollar.

He said, “NNPC wishes to affirm that it has supplied appreciable volume to DAPPMA, Major Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) to rid the challenges currently being experienced in the supply and distribution of petroleum products in the country.

“NNPC regrets that DAPPMA which members had taken receipts of products from PPMC, a subsidiary of NNPC, and owe the company to the tune of N26.7 billion as at December 21, 2017, has the audacity to indict NNPC unjustifiably.

“The statement by DAPPMA that the current hiccups in the supply of products was due to the inability of the Direct Sale Direct Purchase (DSDP) partners of NNPC to deliver on their business obligations is unfounded and self-indicting as many of DAPPMA members patronize the same DSDP international counterparts as the corporation.

“Despite the concession by the government giving access to DAPPMA to obtain FOREX at an official rate of N305 per dollar for PMS import, their members have not been able to do so, leaving NNPC as the sole supplier of PMS to the Nigerian market.”

Ughamadu further assures the public that despite the increase it effected in the supply of PMS in the December 2017, it has nonetheless, programmed to supply 1.2 billion litres of the white products in January 2018, translating to about 40 million litres of PMS supply per day.

He explained that ordinarily, Nigeria consumes about 700 trucks, an equivalent of 27 million to 30 million litres per day.

“Despite the current challenges, Nigerians are reassured that there is no plan to increase PMS pump price above N145 per litre and that NNPC will continue to maintain ex–depot price of N133.28 per litre which guarantees the pump price not exceeding the N145 per litre capped by the government.

“All stakeholders are implored to support the efforts of government to bring a speedy end to the current fuel distribution challenges being experienced in parts of the country as this is not the time to play the blame game,” the NNPC spokesman noted.

Meanwhile, the worsening fuel crisis continued in Abuja and other major cities as long queues of motorists were seen across the few petrol stations selling the commodity at higher prices. 

Some motorists complained of paying as much as N400 per litre of petrol as against the official pump price of N145.  

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