By Tosin Omoniyi

The Pipelines and Product Marketing Company, PPMC, has withdrawn the bulk purchase agreements issued to three petroleum marketers allegedly caught diverting petroleum products from the country.

Reports monitored on the News Agency of Nigeria, NAN, said that the manager, public affairs and community relations of the PPMC, Nasir Imodagbe, made the disclosure on Tuesday during an interview.

The marketers are Funo Alfa Ltd, Organiser West Africa Ltd and Rich Oil Ltd.

The PPMC spokesperson said the marketers’ actions violated a bulk purchase agreement with PPMC.

“The revocation is part of the corporation’s effort in sanitising the industry by checkmating marketers diverting products meant for domestic consumption. This will also reduce frequent petroleum hoarding and diversion by marketers,” he said.

He also said the process was a continuous one and that the agency would ensure adequate monitoring of marketers.

It would be recalled that the Nigerian National Petroleum Corporation, NNPC, had on July 19 banned 113 oil tankers from venturing into Nigerian oil facilities and territorial waters for sundry offences.