Oil marketers kick against bulk purchase renewal agreement

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has condemned the introduction of bulk purchase agreement renewal as one of the conditions for loading products at the Pipelines Products Marketing Company (PPMC) depots.

Alhaji Debo Ahmed, Chairman, IPMAN, Western Zone, made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos, yesterday. Ahmed said some PPMC officials instructed marketers loading products at depots to renew their bulk purchase agreement before loading.

According to him, such directive is adversely affecting marketers loading from the depots. NNPC has been recording huge financial loss by pumping petroleum products through the System 2B Pipelines Network due to the activities of vandals.

System 2B pipelines network is the pumping of petroleum products from Atlas Cove in Lagos Island to Ejigbo, through Mosinmi in Ogun to Ibadan to Ore in Ondo State and Ilorin in Kwara.

In 2016, the corporation had stopped pumping of products through the network, thereby making use of the private depots in Apapa to distribute its products.

He said: “We appeal to government to reconsider the bulk purchase agreement renewal on marketers, which is a fraud. We are told that all marketers should come and renew its bulk purchase agreement for four years again, after we have paid and signed during registration with the depots initially.