Energy

NNPC fires back at oil marketers

…Says they owe PPMC N26.7bn

The Nigerian National Petroleum Corporation (NNPC) has taken members of the Depot and Petroleum Products Marketers Association (DAPPMA) to task over their claim that they were yet to get fuel supply recently.

In a statement in Lagos, on Wednesday, the NNPC described DAPPMA’s claim as unfortunate.

The corporation insisted that it had supplied appreciable volume to DAPPMA, Major Oil Marketers Association of Nigeria (MOMAN), and Independent Petroleum Marketers Association of Nigeria (IPMAN) to check the scarcity of fuel in the country.

The corporation also said it was surprised at DAPPMA’s audacity to challenge its (the NNPC’s) claims, noting that members of the association had received supplies from Petroleum Products Marketing Company (PPMC), a subsidiary of NNPC, and was indebted to the company to the tune of N26.7 billion as at December 21, 2017.

DAPPMA on Tuesday blamed NNPC for the excruciating fuel scarcity ravaging the country and said its members’ depots were empty.

It, however, noted that if PPMC/NNPC can provide it with PMS that it was ready to do 24 hours loading/truck-out to alleviate the sufferings of Nigerians until fuel queues are totally eliminated.

According to the NNPC, “The statement by DAPPMA that the current hiccup 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 patronise 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.”

The NNPC pointed out that even after it increased the supply of PMS in December, 2017, it had programmed its system to further rev up supply to 1.2 billion litres of the white products in January 2018.

The supply would translate to about 40 million litres of PMS supply per day.

Ordinarily, Nigeria consumes about 700 trucks (about 27 million – 30 million litres) per day.

It assured Nigerians that there was no plan to increase PMS pump price above N145/litre and that NNPC would continue to maintain the ex-depot price of N133.28/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,” spokesman of the NNPC, Ndu Ughamadu, said.

 

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