Fuel Scarcity: 9,000 oil marketers face license loss, IPMAN appeals for extension
As Nigerians grapple with fuel scarcity, over 9,000 oil marketers are at risk of losing their operating licenses. The Independent Petroleum Marketers Association of Nigeria (IPMAN) is urging the Nigerian National Petroleum Company Limited (NNPCL) to extend the final deadline for licensing renewal to July. Additionally, IPMAN appeals to the Nigerian Midstream and Downstream Regulatory Authority to release 9,000 already processed licenses to its members.
The association expressed concern over the slow pace of license renewal by the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) in a release signed by its National Public Relations Officer, Chief Chinedu Ukadike. The NNPCL had set a deadline of April 15, 2024, for marketers to renew their licenses or risk closure to access the customer express portals for purchasing petroleum products.
IPMAN argues that extending the deadline would allow marketers to reconcile their licenses and alleviate panic buying by the public, which worsens the current fuel scarcity. In response, the NMDPRA assured that they would review IPMAN’s request and take appropriate action, as stated by Cardoso during a conversation with
