IPMAN to NNPC, Stop Storing Our Products In Capital Oil Tank Farm


IPMAN-300x234The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Nigerian National Petroleum Corporation (NNPC) to immediately stop storing products meant for its members in tank farms belonging to Capital Oil.

Briefing journalists in Abuja yesterday, the factional national president of the group, Elder Chinedu Okoronkwo, alleged that members of the group have suffered untold hardship over the NNPC’s use of Capital Oil depots for their products storage.

Okoronkwo, who noted that the IPMAN has written to President Muhammadu Buhari over the matter, maintained that fuel scarcity will not abate if this situation is not checked and disclosed that 60 per cent of products allocation to IPMAN members are signed off to be discharged to Capital Oil tank farm.

The arrangement which they now demand an end to as members hardly access the products, he explained, was entered into during the tenure of the association’s former president, Aminu Abdulkadri. He said that despite making payments to the NNPC, members in the western zone have been unable to access products for 700 tickets, worth about N2 billion, for eight weeks now, resulting in their monies being tied down.

“From the information I have from our people in the South West Zone, over N2 billion worth of product is trapped in the Capital Oil tank farm. This is NNPC’s product, not Capital Oil-owned product, and we are now asking questions because the agreement of 60 per cent has ended with the regime of our former president, Aminu. Now, we are telling the NNPC to stop sending our product to Capital Oil as there are several tank farms, including the ones owned by the NNPC and Atlas Cove depot. They can repair these and pump product there if there is nothing fishy going on between them,” Okoronkwo stated. – Leadership


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