BY AYO AZEEZ
The Nigeria National Petroleum Corporation (NNPC) has started refunding payments made by members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) for the procurement of petroleum motor spirit (PMS).
However, the move has been met with criticism from marketers who describe it as “wickedness.”
Marketers who spoke to our correspondent expressed frustration, stating that NNPC disregards the challenges they face in sourcing capital and the debts they incur while doing business with the corporation.
A marketer, Olatunji Akeem, who spoke with our correspondent said many of them had made payments since June 3rd, and with the interest on loans overdue for three months, the returned funds have left them in a difficult position.
He expressed that, “NNPC seems to be bigger than the country now. They neither bother what the marketers go through before sourcing for capital for their business; nor do they bother if we run into debts in the course of doing business with them.”
He said further that “It’s thus surprising that NNPC doesn’t consider the fact that many of us obtain loans from banks to run our business. And the interest on these loans are also over due for three months our funds have been stuck in their portal.”
Investigations revealed that the refunded amount can be repaid into the portal when NNPC announces the exact additional amount to be paid due to the recent pump price increment. Marketers had paid ₦556 per litre, but rumors suggest the new payment will be around ₦765, potentially allowing them to sell slightly above NNPC filling stations’ prices.
The controversy raises questions about NNPC’s consideration for marketers’ struggles and the transparency of their payment processes.
