The Group Managing Director
Nigerian National Petroleum Company Limited (NNPC Ltd)NNPC TOWERS ABUJA
The leadership and members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Eastern Zone, have extended their heartfelt congratulations to the newly appointed Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC Ltd), expressing hope for a revitalized downstream sector under his watch.
In a strongly worded open letter, jointly signed by Prince Bobby Eberechi Dick (Zonal Chairman) and Emmanuel Inimgba (Zonal Secretary), the association acknowledged the GMD’s commendable track record in the petroleum sector and lauded the ongoing reforms targeted at improving product access, particularly around the system 2E axis.
The letter noted that the burden and risks of long-distance procurement trips to Lagos have been significantly reduced under the current reforms. They further called for the reopening and resuscitation of strategically important depots in Aba, Enugu, and Makurdi, citing the immense relief it would provide to marketers within the Eastern Zone.
However, the association also raised a critical alarm about a financial crisis affecting its members. According to the letter, over ₦5 billion paid by independent marketers into the NNPC Retail Ltd portal has remained unreleased for over a year. This situation has left many marketers on the brink of collapse, with some reportedly losing their properties after defaulting on bank loans secured to facilitate those purchases.
“Despite multiple engagements with the Managing Director of NNPC Retail Ltd., we have only been told that reconciliation is ongoing—a process that has dragged on for more than five months,” the letter states.
IPMAN emphasized that its members, unlike major marketers, operate on a cash-and-carry basis, and such prolonged withholding of funds is unsustainable.
The association is now seeking urgent intervention from the NNPC GMD to facilitate the immediate release of these funds, warning that continued delay could cripple many businesses and destabilize fuel supply chains in the Eastern region.
“We urgently seek your intervention to resolve this quagmire, as it poses a significant threat to the livelihoods of many marketers in our association,” the letter concludes.
They also expressed willingness to meet with the GMD or relevant authorities to further discuss and find lasting solutions to the challenges facing marketers in the zone.
