Written by Godfrey AKON

DAPPMA, NNPC feud: "marketers owe us N26.7billion"

A new twist was added, Wednesday, to the feud between the Nigerian National Petroleum Corporation, NNPC, and the Depot and Petroleum Products Marketers Association, DAPPMA, over the month-long fuel crisis in the country.

The corporation, in a statement, regretted that DAPPMA had the audacity to indict it after owing its subsidiary company, the Petroleum Products Marketing Company, PPMC, the sum of N26.7 billion from receipt of petroleum products as at December 21, 2017.

DAPPMA had in a statement by its Executive Secretary, Mr. Olufemi Adewole, alleged that NNPC was lying to Nigerians over the gruelling fuel scarcity across the country, stating that its members were not hoarding petroleum products as alleged by NNPC.

The marketers maintained that the current hiccups in the supply of products was due to the inability of the Direct Sale Direct Purchase, DSDP, partners of NNPC to deliver on their business obligations.

“Our members' depots are presently empty. However, if the NNPC/PPMC provides us with PMS, we are ready to do 24 hours loading/truck out to alleviate the suffering of Nigerians until the fuel queues are eliminated," said DAPPMA. 
The association maintained that the NNPC has been the sole importer of the product since October for various reasons,” DAPPMA said. 
But NNPC on Wednesday described the allegations as unfounded and self-indicting as many of DAPPMA members patronize the same DSDP international counterparts as the corporation.

“NNPC wishes to affirm that it has supplied appreciable volume to DAPPMA, Major Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) to rid the challenges currently being experienced in the supply and distribution of petroleum products in the country.

“NNPC regrets that DAPPMA which members had taken receipts of products from Petroleum Products Marketing Company (PPMC), a subsidiary of NNPC and owe the company to the tune of N26.7billion as at December 21, 2017, has the audacity to indict NNPC unjustifiably,” NNPC said.

The corporation also noted that despite the concession by the government giving access to DAPPMA to obtain FOREX at an official rate of N305 per dollar for PMS import, their members have not been able to do so, leaving NNPC as the sole supplier of PMS to the Nigerian market.

NNPC assured that despite the current challenges, there is no plan to increase PMS pump price above N145/litre and that NNPC will continue to maintain ex–depot price of N133.28/litre which guarantees the pump price not exceeding the N145 per litre capped by the government.

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