DAPPMA owes N26.7b but gets products – NNPC

The Nigerian National Petroleum Corporation on Wednesday said the allegation by the Depot and Petroleum Products Marketers Association on the fuel supply situation was untrue.
Ndu Ughamadu, the corporation’s spokesman, denied the allegation in a statement.
Ughamadu said an appreciable volume of supplies had been made to DAPPMA, Major Marketers Association of Nigeria and Independent Petroleum Marketers Association of Nigeria in order to address fuel scarcity challenges.
The DAPPMA had in a statement on December 26 exonerated marketers from the ongoing fuel scarcity across the country, saying its members’ depots were empty.
The NNPC had consistently laid the blame of unending queues, diversion of products and sharp practices at the door of marketers.
Ughamadu said in the statement on Wednesday: “DAPPMA had taken receipts of products from Petroleum Products Marketing Company, a subsidiary of NNPC, and owed the company to the tune of N26.7 billion as at December 21, 2017.
“The statement by DAPPMA that the current hiccups in the supply of products was due to the inability of the Direct Sales Direct Purchase (DSDP) partners of NNPC to deliver on their business obligations is unfounded and self-indicting as many of DAPPMA members patronise the same DSDP international counterparts as the corporation.
“Despite the concession by the government giving access to DAPPMA to obtain FOREX at an official rate of N305 per dollar for petrol import, their members have not been able to do so, leaving NNPC as the sole supplier of petrol to the Nigerian market.
“NNPC assures the public that despite the increase it effected in the supply of petrol in December 2017, it has nonetheless, programmed to supply 1.2 billion litres of the white products in January 2018, translating to about 40 million litres of petrol supply per day.”
On the average, Nigeria consumes about 700 trucks (about 27 million – 30 million litres) per day.
Ughamadu said in spite of the current challenges, Nigerians should be assured that there was no plan to increase petrol pump price above N145 per litre.
He said NNPC would continue to maintain ex-depot price of N133.28 per litre to guarantee that pump price would not exceed the N145 per litre capped by the government.
He said: “All stakeholders are implored to support the efforts of government to bring a speedy end to the current fuel distribution challenges being experienced in parts of the country.
“This is not the time to play the blame game.”
The fuel imbroglio started over two weeks ago with queues getting longer.