The situation with the oil marketers and licensing renewal in Nigeria seems quite challenging. It appears that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is facing difficulties with the renewal process, leading to concerns about potential fuel scarcity......See Full Story>>.....See Full Story>>
They’ve requested an extension from the Nigerian National Petroleum Company Limited (NNPCL) for licensing renewal until July, citing the need for more time to reconcile licenses and alleviate panic buying among the public, which is exacerbating the fuel scarcity issue.
It’s crucial for regulatory authorities to address these concerns promptly to ensure stable access to petroleum products for the population.
The statement read,
The Independent Petroleum Marketers Association of Nigeria are aBosom with current developments in the downstream sector of our petroleum industry and wish to state that the latest information reaching us from the Nigerian Midstream and Downstream Petroleum Regulatory Authority states that they have already processed more than 9,000 out of the 15,000 licenses they are expected to process for our members within this period. “Marketers are fast-tracking the processing of their licenses to avoid the impending closure of their customer express portals for purchase of petroleum products from NNPC Retail Limited. “We, therefore, use this opportunity to appeal to the management of the NMDPRA and NNPC Retail Limited to respectively release the processed licenses and extend the deadline for delisting of marketers from their express portals. If our request is granted, it will ease the tension of panic buying by members of the public in order not to aggravate the present scarcity of petroleum products.” Giving further clarity in a telephone interview, Ukadike said, “The release is to appeal to the NNPCL and NMPDRA to please extend the final deadline to July so that it would enable them to reconcile the licences so that they will not be unduly shut out off the portal and that is IPMAN appeal.