This Day (Lagos)

Nigeria: N17bn Debt - Ipman Plans Indefinite Strike

7 November 2008


Lagos — Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), have threatened to go on indefinite strike, to demand for settlement of the outstanding N17 billion owed them by Petroleum Equalisation Fund (PEF).

Alhaji Umaru Ngelzarma, the North East Zonal Chairman of IPMAN, told the News Agency of Nigeria (NAN) in Maiduguri on Wednesday that some petrol dealers were owed various sums of money by the Fund and had their business activities grounded.

"Some of our members with low capital base, had their business activities grounded while others had their petrol stations sealed up by banks, because they could not service their debts," he said.

Umaru said the outstanding amounts were meant for lifting of petroleum products from the Southern part to the North and other parts for dealers.

He said the marketers from the North East zone, comprising Gombe, Adamawa, Jos and Maiduguri, had at a recent meeting, resolved to notify IPMAN National Secretariat of their plan to embark on strike.

The IPMAN chairman therefore, appealed to all stakeholders in the petroleum industry, to intervene and ensure that they were paid, to avert the impending strike.

Umaru said the IPMAN members in the zone commended the Federal Government's bold decision to resume oil prospecting in the Lake Chad Area.

He commended President Umaru Yar'Auda's administration for the step taken, assuring that IPMAN was willing to assist in whatever way, in the exploration activities as major stakeholder.

Umaru said the association did not support the government's earlier plans to sell public refineries, depots and pipelines.

He said it had never been done anywhere in the World, urging Nigerians not to allow such to take place due to its implication on national security.

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