Independent Petroleum Marketers in northern Nigeria have expressed dismay over the unfavourable business environment occasioned by the failure of the Petroleum Equalization Fund, PEF, to implement its responsibilities as provided by law.
While the association have threatened to shut down their operations across the country, long queues are gradually returning to filling stations.
Combing across some petrol stations in the Federal Capital Territory, the Heritage Times gathered that hoarding of the product had already began, with black marketers taking over the highways to sell to commuters.
An unnamed attendant at Oando filling station along the Gwarimpa-Kubwa axis, informed our correspondent that the returning queues are not unconnected to a rumored hike in price of petrol later this month.
The petroleum marketers, who met in Kano at the weekend, consisted of all the leading players in the industry such as the proprietors of AA Rano Oil, Aliko Oil, Shafa Oil, Maikifi Oil, AMANSCO, as well as the depot managers of Jos, Gombe, Kaduna, Gusau, Kano, Yobe, Maiduguri among other several other embittered stakeholders.
In a communique issued and signed by Auwalu Rimi and Audu Manager for the Northern IPMAN Stakeholders Forum, the petroleum marketers in the region insisted on the immediate payment of all their outstanding claims by PEF running into millions of Naira.
In addition, they demanded, “an overhaul of Aquilla II processes to ensure that payment of claims no longer exceeds 48 hours as it was originally designed”.
The independent oil marketers’ stakeholders forum also sought the strict compliance with the enabling law of PEF Management Board Act No. 9 of 1975.
They further sought, “immediate implementation of the planned 26 per cent increase in the Freight Rate as agreed to mitigate rising truck maintenance costs and payment of the accumulated arrears”.
They warned that failure of the relevant authorities to take drastic steps to address the issues would leave them with no other option but to withdraw their services nationwide.
