BUSINESS NEWS

IPMAN TO FG: Shutdown Dealers Selling Petrol above Approved Price

Oil marketers in Nigeria have called on the Federal Government to clamp down on petrol depots that have defiled the government order by selling oil above the stipulated price.

The call was made on Thursday, by the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Sanusi Fari, who noted that if the trend is allowed to go on, it would lead to a hike in fuel prices.

Fari said, “Our challenge is the inconsistency in the pricing of petrol. Up till a week ago, government was still insisting that the February price for petrol remained unchanged.”

“And most of the private depot owners are selling above the government stipulated price. As at today ( February 25, 2021) private depot owners are selling at N165 per litre to independent marketers.”

IPMAN Boss, Sanusi Fari.

He added, “In the last six years, only NNPC imports refined products into this country and these tank farms buy their products from NNPC under a controlled price.”

“This has affected our businesses seriously because government is insisting that we sell at the rate of N165, which is not going to work.”

Fari further said, “So government cannot expect us to sell less than what we buy. This is why we are calling on government and agencies that are saddled with the responsibility to control petrol pricing to urgently clamp down on depots that are selling above the stipulated price.”

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