Petroleum marketers under IPMAN’s Eastern Zone have appealed to the new Group Managing Director of NNPC Limited to urgently release over ₦5 billion that has been stuck in NNPC Retail Ltd’s account for more than a year.

The funds, according to the group, were payments made by independent marketers for petroleum products that were never supplied. The marketers say the prolonged delay has pushed many of their members into serious financial distress, with some reportedly losing properties after failing to repay loans used for those transactions.

In a letter jointly signed by Zonal Chairman Prince Bobby Eberechi Dick and Secretary Emmanuel Inimgba, IPMAN lamented that efforts to resolve the issue have stalled, as NNPC Retail keeps claiming the reconciliation process is still ongoing, despite dragging on for over five months.

While applauding the new GMD for ongoing reforms aimed at improving product availability, the association urged him to also consider reopening depots in Aba, Enugu, and Makurdi to ease the burden on Eastern-based marketers.

They warned that many of their members, who operate strictly on cash-and-carry terms, cannot withstand further delays without risking collapse. They also expressed readiness to meet with the GMD or other top officials to resolve the matter.

IPMAN said if nothing is done urgently, fuel supply in the Eastern region could be disrupted.