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IPMAN kicks over N2b PMS in Capital tank farm

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In from Ali Smart …
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over N2billion fuel trapped in the Capital Oil tank farm in the last eight weeks.
Addressing journalists in Abuja yesterday, IPMAN National President, Chinedu Okoronkwo said: “About eight weeks now the Capital Oil refused to supply us the NNPC products. He said that there is no fuel. Actually he has been selling this fuel at black market of N97 per litre, and he refused to give us fuel. So that is exactly what is happening. We have also written to the President of this country.”
Okoronkwo raised the alarm that NNPC seems to be conniving with the firm to allegedly perpetrate the criminal act in the petroleum market.
“Over N2billion of our members’ products is trapped in his tank farm. This is NNPC products, it is not his own products.”

Read also: Marketers look to Ghana, Togo for fuel

According to him, NNPC has its own tank farm, it could also store its product in the Atlas Cove.
“So, consistent storage of products in Capital Oil tank farm is questionable even as the Memorandum of Understanding (MoU) that allowed the patronage expired with the administration of the former IPMAN president Abdulkadir Aminu.”
Pressed further, he said: “Now all our products stored there, we are telling NNPC that Capital Oil is not the only tank farm in Nigeria. We have NNPC depots too, Atlas Cove is there. They can repair it and pump products from there if there is nothing fishy between them and Ifeanyi Uba.”
This allocation agreement, he said, has expired, but Uba, who is not a member of IPMAN but a depot owner has continued to divert the allocation of products from the association.
As at press time, Uba could not be reached for comments as he didn’t take calls to his GSM phone.

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