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The Nigerian National Petroleum Company Limited (NNPC Ltd) has directed petroleum marketers who paid for fuel through its online portal to top up their deposits in line with new prices or risk losing their allocations.

Confirming the development to ZINGTIE. COM, NNPC’s spokesman, Andy Odeh, stressed that product loading could not continue at outdated rates.

“Where payments have been made and there is a subsequent price adjustment before loading takes place, marketers are required to either pay the difference before lifting their products or, if they prefer, request a refund,” he explained. “NNPC can confirm that it has received refund requests from some marketers, and in line with our contractual obligations, those requests are currently being processed.”

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has, however, appealed to the NNPC’s Group Chief Executive Officer, Bayo Ojulari, to resolve the backlog of loading tickets on the company’s portal.

IPMAN’s Publicity Secretary, Chinedu Ukadike, told Sunday PUNCH:

“We, the independent marketers, have been calling on NNPC to reimburse us for our money or give us products from some of our tickets that are being tied down in their system through their portal. Though they have started, it is not in full force. So, we are appealing to the GCEO to look at some of the outstanding tickets and clear them.”

Ukadike could not provide the exact number of tickets or their financial value but noted that the amount was “sizable” and required urgent resolution.

The marketers’ renewed call comes after protests in June over diesel price hikes at the Port Harcourt refinery. They alleged that depot officials raised diesel from N980 to N1,130 per litre despite earlier payments made at the lower price. According to IPMAN, the delays in product loading left many of its members stranded, unable to recover their costs.

Another dispute involves unpaid petroleum equalisation funds, with marketers claiming NNPC still owes them about N25bn. Ukadike pointed out that while NNPC had achieved strong revenue growth, the lingering debt continued to hinder operations.

“The issue of pending funds that are in PEF – since they (NNPC) have made gains, they should also try and clear it so that marketers can have their money and compete in this deregulated economy and ensure energy security,” he said. “The debt used to be over ₦40bn, but I think by now, the money has shrunk to around ₦25bn.

Odeh, however, clarified that NNPC had no role in managing or disbursing equalisation funds.

“With respect to the equalisation fund, we wish to clarify that its management and disbursement fall strictly under the mandate of the Nigerian Midstream and Downstream Petroleum Regulatory Authority,” he stated. “As such, NNPC Ltd is not able to provide updates on that matter.”

The Petroleum Equalisation Fund, originally meant to stabilise fuel prices nationwide, was dissolved after the removal of fuel subsidies under the Petroleum Industry Act. Despite reconciliation meetings in 2023, IPMAN insists many members are still owed.

Ukadike cautioned that failure to address the delays and debts could cripple independent marketers.

“Marketers need liquidity to stay competitive. Clearing the outstanding tickets and paying the equalisation arrears will provide us with breathing space,” he said.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) also weighed in, disclosing that NNPC had hired UOP, an international refining technology firm, to evaluate the Port Harcourt refinery under a technical and equity partnership model. PETROAN’s Publicity Secretary, Joseph Obele, praised Ojulari’s leadership, describing the move as “a demonstration of commitment to making the plant functional.

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