lPMAN warns of possible fuel scarcity

It warned that the fresh round of scarcity could only be averted if private depot owners settle the backlog of Petroleum Equalisation Funds (PEF) to the independent marketers.

IPMAN Northwest Zone Chairman, Bashir Dan-Malam, who spoke with reporters in Kano said the failure of the private depot owners to release PEF has resulted in the inability of the IPMAN members to continue lifting fuel products.

This followed the Nigerian National Petroleum Corporation (NNPC), warning to the depot owners to settle the PEF to IPMAN or be denied further allocation of petroleum products.

He said: “The problem of petroleum products scarcity in most cases, among other reasons, is as result of withholding of equalization fund to independent marketers. Thank God, the NNPC is aware and planning to take it seriously this time. That is why we commend the recent directive issued to the private owners.

“This decision, if fully implemented, will go a long way in solving the problems bedevilling the downstream sector. I want to also urge the marketers to be honest and transparent in managing the fund. The payment will enable marketers build more filling stations and create more job opportunities for our teeming youths.

Source: The Nation