Fuel scarcity looms in Southwest

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The Southwest branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to withdraw services, following the introduction of Bulk Purchase Agreement (BPA) fee by the Nigerian National Petroleum Corporation (NNPC).

If the marketers make good their threat, it will spark another round of petrol scarcity in the region.

The association yesterday lamented the introduction of BPA, noting that petroleum marketers were usually exempted from payment of such fees.

It warned that the introduction of a five-year BPA fee by NNPC may set it on a collision course with its members.

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The Chairman, IPMAN Ibadan Depot, Raheem Tayo, confirmed the development to The Nation, adding that the NNPC’s decision was unacceptable.

He said: “How can our members be subjected to the payment of N125,000 annually for BPA fee, when we load petroleum products from private depots that charge far above the recommended retail price fixed by the government.”

According to Tayo, NNPC’s request that the BPA fee be paid five years upfront, amounting to N625,000 per marketer may turn out to be the last straw that will break the camel’s back.

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