The Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has revoked the Bulk Purchase Agreement (BPA) licences from three marketers. The affected marketers are Funo Alfa, Organiser West Africa, and Rich Oil. The sanction was “with immediate effect.”
The NNPC, in a statement by its spokesman, Mr. Ohi Alegbe, in which it announced the punishment, threatened to clamp down on any oil marketer found to be involved in products’ diversion. The warning came against the backdrop of persistent tightness of supply being experienced in the country despite huge load-outs from PPMC depots by both major and independent marketers.
This situation, NNPC said, had been traced to diversion. “In a bid to sanitise the fuel distribution and supply system and eliminate the queues at filling stations across some cities in Nigeria, the (NNPC) has warned that henceforth, any oil marketer found to be involved in products’ diversion will have its Bulk Purchase Agreement with its mid-stream subsidiary, the Pipeline and Products Marketing Company (PPMC), revoked,” the statement said. It warned marketers to desist from products’ diversion, hoarding, and other sharp practices, as it would not hesitate to wield the big stick against errant marketers. It added that it is closely monitoring the market, stressing that the withdrawal of lifting licences of errant marketers is a continuous exercise.
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