We Are Not Hoarding Fuel, NNPC Not Supplying – DAPMAN

Channels Television  
Updated December 7, 2017

The Depot and Petroleum Marketers Association of Nigeria (DAPMAN) has refuted allegations that it is hoarding fuel, hence contributing to the scarcity of the product.

DAPMAN’s Secretary, Mr Olufemi Adewole made the position known when he appeared on Channels Television’s Sunrise Daily on Thursday.

Asewole’s comments come shortly after the Managing Director of the Nigerian Products Marketing Company, Mr Umar Ajiya accused the union of exploiting the Independent Petroleum Marketers Association of Nigeria by hoarding the products.

Ajiya said, “What is happening is that we have made these products available to IPMAN members. The NNPC depots are not quite enough to cover all the IPMAN members.

“And that is why they resort to buying from other DAPMAN members, some of whom have tried to exploit them by increasing the prices.”

Reacting to the comments, the DAPMAN boss said his union got wind of an information during their regular meeting, that the NNPC did not have any cargo that usually supplies crude.

He, however, said it is not the responsibility of DAPMAN to tell the public of the suspected scarcity, owing to the possibility of NNPC bridging the gap.

“Through an interpersonal contact, we knew they (NNPC) did not have any cargo. And we know at this period of time, there would likely to be a rise in the crude oil price outside the country.

“With that in mind, and because we know that crude oil prices rising outside means higher landing cost for product inland, we foresaw that there will be a shortfall.

“It is not our duty to tell the public that there will be a scarcity because we know it is possible for them to quickly bridge that gap,” he said.

Also responding to the NNPC’s claim of having sufficient products to meet the needs of Nigerians, Adewole explained that the products stock in the vessels does not automatically translate to products in marketers’ depot.