Published On: Fri, Dec 29th, 2017

NNPC owes Petrol marketers N800b

The Nigerian National Petroleum Corporation, NNPC is owing the Depot and Petroleum Products Marketers Association (DAPPMA) N600billion.

Executive Secretary of the association, Mr Olufemi Adewole, revealed in a statement on Thursday, but the assurance of members readiness to help the NNPC give Nigerians regular supply of petrol.

Adewole said that apart from the N600 billion the NNPC owed DAPPMA members, it also owes the marketers another N200billion, making its indebtedness N800 billion.

“Marketers have continued to sacrifice to keep the country wet with fuel, despite over N600 billion debts owed our members and over N800 billion owed marketers as a whole,’’ Adewole said.

He said that in spite of the unsettled debts, members of the association were still distributing petrol to every part of the country.

According to him, the essence of our initial ‘Press Release’ is to throw light on salient issues surrounding the shortfall in current petrol supply which is solely being handled by NNPC.

“It was not an attempt to join issues with PPMC/NNPC with which we are partners.

“NNPC’s view about 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.

“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 has no cargo to allocate to them.

“As such, how can we be held responsible for hoarding,’’ he said.

Adewole said that PPMC/NNPC did not transact business with DAPPMA members on credit; hence the company was 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.

NAN reports that DAPPMA had on Dec. 26 expressed concern over the inability of NNPC to supply petrol to its members’ depots.

NNPC also accused DAPPMA of owing N26.7 billion on petrol. (NAN)

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