IPMAN Eastern Zone Congratulates New NNPC GMD, Seeks Urgent Action on ₦5bn Retail Payment Delay
IPMAN congratulated the new NNPC Ltd GMD, expressing hope for better fuel distribution.
They also called for the immediate release of over ₦5 billion withheld from marketers to prevent disruptions.
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Eastern Zone, has congratulated the newly appointed Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC Ltd), expressing optimism that his leadership will usher in renewed momentum in the downstream sector.
In an open letter jointly signed by Zonal Chairman Prince Bobby Eberechi Dick and Zonal Secretary Emmanuel Inimgba, the association commended the GMD’s proven record of service and highlighted the ongoing reforms aimed at easing product distribution, particularly along the System 2E pipeline corridor.
They acknowledged improvements in access to petroleum products and noted that the risks and costs associated with long-distance procurement trips to Lagos have significantly reduced under recent policy shifts. The marketers also urged the GMD to prioritize the reopening and rehabilitation of depots in Aba, Enugu, and Makurdi, which they described as vital to stable fuel supply in the region.
However, the association raised concerns over a growing financial crisis affecting its members. According to the letter, over ₦5 billion paid into the NNPC Retail Ltd portal by independent marketers has remained unreleased for over a year, despite repeated follow-ups.
The marketers lamented that many members are struggling to survive after taking loans to finance the withheld transactions, with some already losing personal assets in the process.
“Despite multiple engagements with the Managing Director of NNPC Retail Ltd., we have only been told that reconciliation is ongoing a process that has dragged on for more than five months,” the letter stated.
IPMAN stressed that its members, unlike major marketers, largely operate on a cash-and-carry model, making the prolonged withholding of funds particularly harmful.
The group is now calling on the new GMD to step in and ensure the immediate release of the funds, warning that failure to do so could cripple several businesses and trigger disruptions in fuel supply across the Eastern zone.
“We urgently seek your intervention to resolve this quagmire, as it poses a significant threat to the livelihoods of many marketers in our association,” the letter concluded.
They also expressed their readiness to engage directly with the GMD or other relevant stakeholders to explore lasting solutions to the challenges facing the independent marketers.
