Naija247news reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised alarm over a staggering N900 million debt owed by the Anambra State Government, warning that the backlog could trigger a fuel supply crisis and push pump prices up to N3,000 per litre if unresolved.

Naija247news gathered that the debt stems from unpaid fuel supplies provided by independent marketers to various state agencies, including security and emergency response departments, under a previous arrangement facilitated by the government.

Naija247news understands that IPMAN, in a statement issued through its Enugu Depot Unit Chairman, Chinedu Anyaso, expressed deep concern over the refusal of the state government to settle the outstanding amount, which has accumulated over several months.

According to Naija247news, IPMAN revealed that many of its members operating in Anambra are now unable to restock their supplies due to the financial burden imposed by the unpaid invoices. The association warned that continued non-payment may force marketers to shut down operations, leading to a scarcity that could spike fuel prices to as high as N3,000 per litre in the open market.

Naija247news reports that Anyaso described the situation as unsustainable, saying, "We are appealing to Governor Charles Soludo to urgently intervene and clear the debt. Our members took the risk of supplying products on credit with trust in the government, but we are now being crippled financially."

Naija247news understands that beyond the rising cost implications, the development could have broader consequences on transportation, logistics, and food prices across the state if access to fuel becomes limited due to non-availability.

According to Naija247news, IPMAN also warned that similar debts owed by other sub-national governments, if left unchecked, could create ripple effects across the southeast and south-south regions, already grappling with unstable fuel pricing and distribution challenges.

Meanwhile, residents and transport operators in Awka and other urban centers have expressed anxiety over a potential fuel hike, urging the government to take urgent steps to resolve the impasse before it degenerates into a full-scale crisis.

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Reporting by Agnes Ekebuike Editor, Naija247news in Lagos, Nigeria.

Fuel Crisis Looms as Anambra Govt Owes IPMAN N900m, Price May Soar to N3,000/Litre