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Petrol distributors threaten FG over N500b bridging cost

By Murtala Adewale, Kano
20 July 2022   |   2:44 am
Association of Transporters and Distributors of Petroleum Products (ATDIPP) has asked the Federal government to settle over N500 billion bridging claim of its members or face their wrath.

[ FILES] A petrol pump nozzle is used to pump petrol at a station. PHOTO: REUTERS/Shannon Stapleton<br />

Association of Transporters and Distributors of Petroleum Products (ATDIPP) has asked the Federal government to settle over N500 billion bridging claim of its members or face their wrath.

Making the demand, yesterday, in Kano State, they threatened that marketers would not hesitate to shut down the country’s economy if the Federal Government continues to ignore their request.

Addressing journalists after a stakeholders awareness meeting with members of the association in the North West, ATDIPP consultant, Dr Maurice Ibe, who debunked the government’s claim of paying N70 billion to some marketers, challenged the mainstream regulatory authority to substantiate its claims with proof.

Ibe lamented the high cost of running a petroleum business in Nigeria, arguing that the marketer also deserves concession to secure dollars from the Central Bank of Nigeria (CBN) like other sectors considered critical.

“We are demanding over N500 billion from the Federal Government and we have been seeking an audience with them, calling on them to do the needful in the interest of national security. They have not paid, though they claimed to have paid N70 billion to some members. We say that is ridiculous but challenged them to come out with proof of payment.

“These monies are owned by individual marketers, but we have a situation where some members are being undermined and underpaid on an individual basis. We want to put a stop to that, in order to make a unanimous claim. This way, we can jointly stop the underpayment,” he said.

The ATDIPP demand came when an independent marketer in Kano, Yahaya Maikifi, insisted that marketers had not been informed about the new regulated pump price.

The Federal Government, yesterday, reportedly announced a new pump price of between N169 to N189 per litre of Premium Motor Spirit (PMS).

Maikifi insisted that the new pump price would not be possible.

“I don’t think it is going to be possible because of the cost of transportation. You would buy diesel at N800 per litre, which will take you over N1 million to transport from the South to the North and you expect to sell at a regulated rate; that is not possible. Until Nigeria starts refining its oil, we cannot get it cheaper. But since we import, it will still be expensive,” he said.