The persistent shortage of petrol is causing distress, especially in the Federal Capital Territory and Abuja city center, despite promises from NNPC Limited, the situation remains dire, with long queues at filling stations becoming a common sight.
This scarcity has paved the way for black market vendors to exploit the situation, selling petrol at exorbitant prices, sometimes reaching up to N1,200 per litre.
The root of the issue lies in the unpaid bridging debts owed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to the Independent Petroleum Marketers Association of Nigeria (IPMAN).
These outstanding debts, amounting to approximately N200 billion, have not been settled despite directives from the Minister of State for Petroleum Resources.
Only a small fraction of the owed amount, around N13 billion, has been paid, leaving IPMAN members grappling with financial strain.
Adding to the woes, IPMAN has raised concerns about the sudden 500 percent increase in fees for Sales and Storage Licenses imposed by the NMDPRA.
This sharp hike in license fees has significantly escalated operational costs for independent marketers, prompting urgent appeals for government intervention to reverse this decision.
Alhaji Yahaya Alhassan, Chairman of the IPMAN Depots Chairmen Forum, has urged the Federal Government to intervene and ensure equitable access to petrol for independent marketers.
Currently, these marketers are facing restrictions as they are compelled to patronize private depots instead of NNPC Limited depots.
IPMAN stresses that the unresolved issues, including the unpaid debts and licensing fee hikes, pose a grave threat to the nationwide supply and distribution of petroleum products.
The association warns of potential disruptions to operations if their demands are not promptly addressed.
They highlight the urgency of settling the outstanding debts, emphasizing that these funds were collected from marketers and deducted for transport fares, underscoring the pressing need for the NMDPRA to fulfill its financial obligations to IPMAN members.
