The Nigeria National Petroleum Company Limited (NNPCL) is being accused of fraud by the Independent Petroleum Marketers Association of Nigeria (IPMAN).

In a recent development, IPMAN has raised serious allegations against NNPCL, urging President Bola Ahmed Tinubu to intervene and put an end to the alleged exploitation that occurs during the distribution of petroleum products.

During a protest held in Apapa, Lagos, the Secretary of IPMAN/NNPC PDO Forum, Folalu Ebenezer, spoke to reporters about their concerns. Ebenezer expressed their support for the removal of fuel subsidy but emphasized the need for the President to shift his attention towards the alleged misconduct carried out by NNPCL officials, specifically referring to the act of racketeering.

In summary, IPMAN has accused NNPCL of fraudulent practices and has called upon President Bola Ahmed Tinubu to address the issue of exploitation in petroleum product distribution while also focusing on the alleged racketeering activities involving NNPCL officials.

According to Ebenezer, IPMAN was obligated to make advance payments for the product supplied by NNPCL through the Authority To Pay (ATP) system, specifically for product loading at designated Private Depots (PDOs).

However, he expressed deep frustration over the fact that despite making the necessary payments through the NNPCL portal, the marketers had not received access to the product even after several months had passed.

“Some of our members have tickets up to nine months before the fuel subsidy removal but have not been able to load products,” he said.

Ebenezer recollected that in January 2023, there was an increase in the payment requirements for marketers, whereby they were required to pay an extra sum of N1,072,000 per ticket. 

“Even after the payment, our members are yet to lift the products. There are over 4,500 tickets, including 500 Dynamic tickets yet to drop on the portal.

“NNPCL is now asking IPMAN members, who already have tickets for the products, to pay an additional N13,702,000 on each ticket”, he complained.

Additionally, the secretary further leveled an accusation against the national oil firm, asserting that it was diverting the product, which had been paid for by IPMAN members, to private companies and personal tank farms.