Oil dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, declared that it would shut down the 30,000 stations operated by IPMAN members across the country if the Federal Government fails to pay the N200bn that is being owed marketers.

IPMAN specifically said the Nigerian Midstream and Downstream Petroleum Regulatory Authority, an agency of the Federal Government, had refused to clear the debt, which had continued to accrue since September 2022.

It disclosed this in a communique issued in Abuja by the Chairman of IPMAN Depot Chairmen Forum, Yahaya Alhassan, over the non-payment of marketers’ bridging claims. IPMAN controls over 30,000 filling stations in Nigeria.

Bridging claims are payments made by the government to oil marketers for the transportation of petroleum products loaded from depots to various states across the country.

Alhassan said the consequences of the failure by NMDPRA to pay the N200bn “will be terrible, as every marketer’s outlet across Nigeria, from the North to the South, and from the East to the West, will be shut down.”

He added, “As IPMAN, we have taken every step in the past to salvage this unfortunate and looming situation, which we know will not augur well for Nigerians, but we are presently left with no option than to go all out in the next few days to address this ugly trend in our own way, which will portend great hardship and danger for Nigerians.”

The IPMAN official pointed out that at a stakeholders meeting held on February 20, 2024, with the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, and the National Security Adviser, Nuhu Ribadu, the Chief Executive of NMDPRA, Farouk Ahmed, was mandated by Lokpobiri to clear the entire debt in 40 days.

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“However, today we have crossed the 40 day time-lapse given to the NMDPRA to clear the debt, and it is shameful to state that only the paltry sum of N13bn has been paid, thus going the whole length to ignore our plight without remorse and without recourse to the minister’s directive.

“Before now, we had taken the honourable path to continually seek an explanation from the NMDPRA on why it has blatantly refused to offset the remaining debt, but we have ceaselessly met brick walls,” Alhassan stated.

He said IPMAN was extremely distressed and depressed by the laidback attitude of the leadership of NMDPRA towards the survival of its members’ businesses, arising from NMDPRA’s deliberate delay and refusal to offset the debt of over N200bn.

“This has consequently led to the deaths of many of our members and the unfortunate collapse of their businesses. It is also disheartening to note that some of our members have completely shut down their businesses and retrenched their employees as we are no longer able to pay salaries.

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“As businessmen and women, our members acquired bank loans to keep their fuel retail outlets running on a daily basis across the nooks and crannies of Nigeria, in order to serve the teeming population of Nigerians.

“However, it is demoralising to know that many of our members have gone bankrupt and have become financially insolvent as a result of their inability to meet their financial obligations to their banks, arising wholly from their inability to get their monies from the NMDPRA,” Alhassan stated.

Consequently, according to the IPMAN official, the banks have taken over the business premises of many of our members.

He said, “NMDPRA have illegally taken our monies and this is the highest level of fraud. Sequel to this, we are appealing to Mr President to please intervene in this quagmire that we have been subjected to by the NMDPRA.

“We repeat, if our demands are not met within the shortest period of time, we have already put our members on standby across the nation, as law-abiding citizens, we are collectively prepared to withdraw our services, close every single outlet, and suspend lifting of products forthwith till our demands are fully met.”

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When contacted, the NMDPRA said the payment process was ongoing. “Not everyone is paid at the same time, rather the payment process is an ongoing thing,” a spokesperson for the agency, Seiyefa Osanebi stated.

Meanwhile, commenting on the scarcity of fuel across the country, Alhassan said the problem was because the Nigerian National Petroleum Company Limited was not supplying enough petrol to dealers.

“It is expedient for us to state that we are more pained by the non-availability of petroleum products across the country, which has given rise to another round of untold hardship for Nigerians.

“We would like to categorically state that the scarcity of PMS is wholly triggered by the NNPC and not by IPMAN or her members. Contrary to claims that IPMAN members are hoarding PMS products, we make bold to say that NNPC is the sole importer of PMS and therefore the sole cause of the present scarcity in Nigeria,” he stated.

IPMAN also stated that NNPC was supplying petrol to private depots, adding that these depots raise the cost of the commodity to as high as N850/litre, which often leads to higher pump prices nationwide.

NNPC, however, assured Nigerians that the ongoing fuel scarcity and queues would be cleared out by Wednesday, May 1, 2024. Its Chief Communications Officer, Olufemi Soneye, reportedly stated this on Tuesday in Lagos.

He said the company currently has availability of products exceeding 1.5 billion litres, which can last for at least 30 days and blamed problems of logistics for the scarcity of petrol nationwide.

PUNCH

Yuki, wife of the detained Binance Holdings Limited executive, Tigran Gambaryan, has described the 65 days her husband has spent in custody as the longest in their lives.

Gambaryan and another Executive of the company, Nadeem Anjarwalla, were detained on February 26 following an investigation into Binance’s activities in Nigeria.

Yuki, represented by her congressman, Rich McCormick, spoke at the House Foreign Affairs Committee roundtable on Americans detained abroad on Tuesday.

Yuki accused the Nigerian government of luring her husband to the country and detaining Gambaryan without initially charging him with any crime.

Gambaryan’s wife stated that although she couldn’t speak on behalf of the company, she stressed that the charges against her husband were completely unfounded.

She said, ” My husband and the father of our two young children, Tigrin, has been in Nigerian custody for 65 days, the longest two months of our lives. On February 25, he landed in Abuja at the Nigerian government’s request for a financial compliance policy. This is what Tigran does. He helps countries navigate the notoriously prickly world of finance, crime, and compliance.

“He spends his days investigating and pursuing criminal activity on the cryptocurrency platform of Binance, his employer. However, 24 hours after his arrival, he was arrested and detained without charge or explanation.

“It took over two weeks for the Nigerian government to fabricate tax-related charges against Tigran and finance. I cannot speak for his employer, but the charges against Tigran are utterly baseless.

“He was lured into the country under false pretences, only to be arrested due to some allegations against his employer.”

Yuki also lamented that her husband was being kept at the Kuje correctional centre where terrorists were being held.

“Today, my husband sits in the notorious Kuje prison, a place that has held Militants from Islamic State and Boko Haram,” she said.

Gambaryan’s wife accused the Nigerian Government of using her husband as a bargaining chip, a situation she described as devastating.

She said, “Ironically, Tigran spent more than a decade as a special agent for the United States General Revolution Revenue Service, investigating issues of national security, terrorist financing, identity theft, distribution of tile pornography, tax evasion and more.

“To see my husband, who is by nature a person of goodwill and strong moral character, be used as a bargaining chip by the Nigerian government is devastating.”

She therefore called on the United States of America government to stop being passive in the matter involving its citizens.

Yuki said, “The United States cannot afford to remain passive while its citizens suffer tremendously in the name of geopolitical gamesmanship.”

Anjarwalla on March 23 escaped from safe custody and fled the country.

Gambaryan alongside Binance were subsequently arraigned by the Federal Inland Revenue Service and the Economic and Financial Crimes Commission on tax evasion and money laundering charges respectively.

The House of Representatives has called on the Nigerian Electricity Regulatory Commission to suspend forthwith the implementation of the new electricity tariff nationwide.

Recall that NERC recently mandated electricity distribution companies to charge Band A consumers increased tariffs in a move aimed at ensuring a stable power supply for those who can pay for it.

However, many Nigerians accused NERC of migrating most consumers to Band A even as they complained of epileptic supply.

Coming under the motion of urgent public importance at the resumption of plenary on Tuesday, a member representing Ivo/Ohaozara/Onicha Federal Constituency, Ebonyi State, Kama Nkemkanma, reminded his colleagues of the need to address key issues surrounding “The sudden hike in electricity prices in Nigeria.”

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He noted that the motion “Highlights concerns over due process, fairness, and the impact on consumers. The motion aims to restore public trust, protect consumer rights, and ensure regulatory accountability in the Nigerian Electricity Supply Industry.”

He said, “What’s more concerning are the reports indicating discrepancies in customer categorisation and widespread complaints regarding inadequate service despite increased charges. This situation has not just sparked national anxiety, but it also threatens regulatory certainty and investor confidence in the sector, demanding immediate attention.

“This motion argues for legislative intervention, underlining our constitutional and moral obligations to address the crisis and alleviate the burden on Nigerian citizens. It places a strong emphasis on the legislative oversight role over NERC and the electricity utilities.”

According to the Labour Party chieftain, “Key issues highlighted include the failure of due process in approving the tariff increase, concerns over discriminatory practices, and the disputed nature of government subsidies to electricity distribution companies.

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“The motion proposes resolutions to suspend the recent tariff increases, establish a special committee for hearings involving relevant stakeholders, appoint a technical consultant to assess the legality and reasonableness of NERC’s procedures and draft a bill to improve regulatory processes in tariff setting.

“Overall, this motion underscores the importance of legislative action to address the challenges facing the electricity sector and ensure fair treatment of consumers while promoting transparency and accountability in regulatory decision-making.”

Following the adoption of the motion, the House ordered NERC to suspend the operation of the new tariff.

It also resolved to set up a special committee made up of the Committees on Power, Commerce, Delegated Legislation and National Planning to organise a well-structured hearing on the price regulation of NESI with the participation of the Minister of Power, Chairman and Commissioners of NERC, the CEO of all electricity utilities in Nigeria, President of the National Industrial Court, Trade Union Congress and leaders of chambers of Nigerian.

The House also resolved to appoint a well-regarded former regulator as technical consultant to the House “To develop templates for determination of the legality and reasonableness of the procedure adopted by NERC in approving the tariff increase and establishing the performance benchmarks for the Discos.”

It further authorised the consultant to work with the special committee to draft a bill “To provide for administrative procedures that entrench proper consultation and legislative review of the process for tariff setting in the electricity and other public services in Nigeria.”