Saturday, May 15, 2021

IPMAN threatens to start selling petrol above N145 per litre


Rayyan Alhassan
Rayyan Alhassan
Rayyan Alhassan is a 30-year-old graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or, or @Rayyan88 on Twitter.
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The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said it might start selling Premium Motor Spirit (petrol) beyond N145 per litre.

The IPMAN issued the treat on Monday in Lagos via its Chairman for Ore Depot, Shina Amoo.

IPMAN said its threat followed private depot owners’ sales of Premium Motor Spirit (petrol) at N133.28 per litre.

The IPMAN leader told Punch that independent marketers might soon start selling beyond N145 per litre if depot owners continued to sell between N136.50 and N137 per litre.

“Private depot owners have increased the ex-depot price of PMS beyond N133.28 per litre,” he said.

“We bought a litre of PMS between N136.50 and N137 per litre from private depot owners last weekend.

“This can affect the pump price at which independent marketers will sell the product, and it will certainly be beyond the N145, which is the official pump price.”

He noted that “We, independent marketers, are law-abiding. We don’t want to sell above the official pump price and that is why we are urging the government to do something about it and make the product abundantly available.

“They should monitor private depot owners to make sure they don’t sell above the official ex-depot price of N133.28.

“The NNPC is the sole importer and nobody has the right to increase the price but if they continue to sell to us above the official ex-depot price, we will have no option than to increase the pump price above N145 per litre.

“The increase in price by private depot owners will eventually push the burden on the marketers and final consumers.”

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