Says N90 bn fuel money hangs in NNPC
The Depot and Petroleum Products Marketers Association ( DAPPMA) has fired back at the Nigerian National Petroleum Corporation (NNPC) saying that the corporation is owing marketers about N800 billion
Executive Secretary Mr Olufemi A. Adewole in a statement said that Marketers have continued to sacrifice to keep the country wet with fuel despite over N600billion debt owed members and over N800billion owed marketers as a whole by the Federal Government.
He said the essence of the association’s initial ‘Press Release’ was to throw 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.
According to Adewole, NNPC’s view of the press release stating the association’s 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 N90Bn, yet PPMC/NNPC had no cargo to allocate to them,” he said.
Adewole argued : “As such how can we be held responsible for hoarding?”
He noted that 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,” he said.
“We assure Nigerians, irrespective of NNPC’s stance, that all possible steps are being taken as we have always done, to cooperate with PPMC/NNPC to eliminate the fuel queues nationwide within the next few days,” he said.