NNPC warns oil marketers against diverting products

The state-run Nigerian National Petroleum Corporation (NNPC) has warned that petroleum marketers caught diverting products would have their Bulk Purchase Agreement with the Pipeline and Products Marketing Company (PPMC) revoked.

The NNPC said in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, on Tuesday in Abuja that the new policy was part of efforts to sanitise the nation’s fuel distribution and supply system and eliminate the queues at fuel stations across the country.

The statement explained that the warning was issued in the face of persistent tightness of supply being experienced in the country despite huge load-outs from Petroleum Products Marketing Company (PPMC) depots by both major and independent marketers, a situation that has been traced to diversion.

Meanwhile, the PPMC has revoked the lifting license (Bulk Purchase Agreement) of three independent marketers for engaging in products diversion and sundry infractions.

According to Nasir Imodagbe, the Manager, Public Affairs and Community Relations of PPMC, the affected marketers are Funo Alfa Limited, Organiser West Africa Limited and Rich Oil Limited. The sanction is with immediate effect.

He warned the marketers to desist from products diversion, hoarding, and any other form of sharp practices as it would not hesitate to wield the big stick against any operator.

According to him, the company is closely monitoring the market and that the withdrawal of lifting licenses of erring marketers is a continuous exercise.

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