- IPMAN on Wednesday, June 22, warned its members not to sell petrol above the approved N165/liter pump price
- The union gave the warning in conjunction with the association of distributors and transporters of petroleum products
- IPMAN said though its members have called for increased in the pump price but added that the NNPC has imported enough fuel and the challenges are transportation and insecurity
The independent petroleum marketers association of Nigeria (IPMAN) has warned its members not to sell premium motor spirit, known as petrol, above the approved N165/liter.
IPMAN gave the warning in conjunction with the Association of distributors and transporters of petroleum products (ADTPP) in Abuja on Wednesday, June 22.
The associations gave the warning following a report that many retail outlets had adjusted their pump price upwards above government-regulated rate.
IPMAN factional president, Chinedu Okoronkwo, stated that though members of the association had called for a hike in petrol, but that the Nigerian National Petroleum Company Limited, had released enough fuel.
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“Our members in Lagos were getting the fuel at N170 – N173/litre, that’s why they wanted price increased. It is only the NNPC that is importing the product. The cost of doing business has changed, so it becomes difficult to sell at N165/litre
“That is why we are thanking the NNPC for bringing the product to N143/litre. So, our members must sell the product at N165 which is the government-approved price.”
Insecurity affecting transportation of fuel across the country - oil marketers
He then revealed that IPMAN and its partner have engaged the services of Benham group to recover the money owed them for the supply of petroleum products.
“Our business requires technology, that is why we brought a seasoned financial expert and we’ve been able to recover a lot of funds in other countries and Nigeria,” he said.
The IPMAN official added,
“The incessant mishaps and destruction of trucks on the road, banditry and kidnapping is the reason we are bringing the insurance company to help us. Leaving the risk for the owner of the truck to bear will affect our businesses.”
On his part, the National President, Association of Distributors and Transporters of Petroleum Products in Nigeria, Mohammed Danzaki, said the NNPC had done a lot to import the product,
“but the main issue is the transportation.”
“We have not been getting our payments. That is why we engaged a financial expert, Benham Group, to recoup our money for Nigerians to get regular supplies in the fuel stations.”
The Chairman, Benham Group, Maurice Ibe, said the collaboration was to ensure stabilisation of fuel supply at the filling stations.
FG tells Nigerians, businesses it cannot intervene as cost of Diesel, aviation fuel continue to rise
Employees without PVCs to lose their salaries, says IPMAN chairman
Legit.ng reports that IPMAN has released an official statement telling its employees without PVCs to prepare to lose their salaries by month's end.
The Chairman of the Kano state chapter of IPMAN, Bashir Danmallam, made the threat in a statement he issued on Friday, June 17.
Danmallam in the statement said that he was compelled by the national president of the union, Chinedu Okoronkwo, to issue the statement.
Fuel Scarcity: We Can’t Continue to Sell Petrol at N165 per Litre, Marketers Insist
Fuel queues on Monday resurfaced in most parts of Lagos state following the decision of some members of the IPMAN to close down their operations.
The Lagos zonal chairman of IPMAN, Akin Akinrinade explained in an interview that its members did not embark on strike but can’t continue to operate in a hostile setting.
The petroleum marketers are however insisting on selling the premium motor spirit at N165 per litre.