The Pacesetter Frontier Magazine

Tag: IPMAN

  • Fuel scarcity: IPMAN directs members not to sell fuel above N165/litre

    Fuel scarcity: IPMAN directs members not to sell fuel above N165/litre

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has instructed its members not to sell Premium Motor Spirit (PMS), also known as petrol, for more than the approved pump price of N165 per litre.

    This comes as a reversal of its earlier directive to its members to sell petrol at N180/litre.

    Recall that the Lagos Chapter of IPMAN through its secretary, Akeem Balogun on Monday had announced that it would no longer be able to sell petroleum below N180.

    However, IPMAN’s National President, Chinedu Okoronkwo in a joint press conference with the Association of Distributors and Transporters of Petroleum Products (ADITOP) in Abuja directed members to stick to the approved price of N165 per litre.

    He acknowledged that members of the association had called for an increment in petrol price, but noted that the Nigerian National Petroleum Corporation Limited (NNPC) had released sufficient stock of Petroleum products from its tank farms.

    He said, “The cost of doing business has changed, and it is only NNPC that imports Petroleum products. Our members in Lagos were getting the products at N170 to N173/litre, and that is why they were calling for an increment in price of petrol. But yesterday, NNPC released Petroleum products from its tank farms. That is why we are grateful to them that, with this product we are now accessing at N148.17k, status quo ante must be maintained moving forward; and from what they told us they have sufficient stock of Petroleum products that can last up to 32 days.”

    The IPMAN boss further disclosed that Petroleum marketers and transporters had begun negotiations and engaged the services of a consulting firm, Benham Group to recover money owed them for the supply of petroleum products.

    “Our business requires technology, that is why we brought a seasoned financial expert and we have been able to recover a lot of funds in other countries and Nigeria.

    “The incessant accidents and destruction of trucks on the road, banditry and kidnapping is the reason we are bringing the insurance company to help us,” Okoronkwo explained.

    On his part, the National President, ADITOP, Alhaji Mohammed Danzaki, said ADITOP and IPMAN are the ones suffering since they need returns for their investments.

    “NNPC has done a lot to import the product but the main issue is the transportation.

    “We have not been getting our payments. That’s why we engaged a financial expert, Benham Group, to recover our money for Nigerians to get regular supplies in the fuel stations,” Danzaki said.

    (Sun)

  • Imminent fuel crisis as private depot owners raise prices.

    The Independent Petroleum Marketers Association of Nigeria, Kano has alerted the Federal Government over the imminent fuel crisis in the country following the decision by some private depot owners to unilaterally raise the prices of the product.

     

    The IPMAN chairman Kano chapter, Alhaji Bashir Danmallam, stated this in a statement issued in Kano on Friday.

     

    He said some of the private depot owners had increased the price of the commodity from N148 per litre to between N153 and N155 per litre since Friday last week.

     

    He said the association found it necessary to alert the government in order not to blame its members if they increase the price of the commodity as they would not operate at loss.

     

    “Some private depot owners are trying to sabotage the Federal Government by unilaterally increasing their prices even though the government has not raised the fuel pump price.

     

    “We are equally calling on the Management of the NNPC to investigate the issue as some of the private depot owners have since Friday last week increased the price from N148 per litre to between N153 and N155 per litre. We know it’s only the Federal Government that imports fuel into the country.

     

    “As I am talking to you private depot owners in Warri, Calabar Lagos and Oghara in Delta State have increased their prices. We hope the management of the NNPC will investigate and intervene,” Danmalam said.

     

    He also accused the private depot owners of trying to cause a fuel crisis in the country by closing the depots as the end of the year is fast approaching to maximize profit.

     

    He said the association would not fold its arms and allow such unpatriotic private depot owners to engage in unnecessary price increase while the public is always accusing their members of flagrant increase in fuel prices.

     

     

     

     

     

    Source: www.punchng.com