Nigerian News

IPMAN Blames Scarcity, Increase In Fuel Price On Federal Govt

The Evangelist
December 5, 2022

As the effect of petroleum scarcity bites harder nationwide, the Ogun State branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has disassociated itself from the current scarcity and increase in pump price of Premium Motor Spirit (PMS) also known as petrol being experienced across the country.

IPMAN in a statement it issued in Abeokuta, the Ogun State capital, blamed both the increase in the pump price, as well as the non-availability of the product on the failure the federal government through the Nigeria National Petroleum Corporation (NNPC) at making the product available for its members at the approved dispensing pump price.

In the statement, personally signed by IPMAN chairman for Mosimi Depot, Otunba Femi Adelaja and made available to newsmen in Abeokuta, the association explained that PMS is not available at any of the NNPC’s depots across the country.

Disclosing that non-availability of the product, with its attendant increased in pump price have constituted serious concerns to IPMAN, Adelaja explained that the few litres supplies being sold to members of the public by his members were sold to them at the rate of between N215 and N220 in Lagos, excluding the cost of transporting it down to their various fuelling stations across Ogun State.

The statement reads in part: “Leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Ogun State has noticed with serious concerns, the scarcity of the Premium Motor Spirit (PMS) commonly referred to as petrol across towns and cities in Ogun State, with its attendant hike in the dispensing price above the federal government stipulated price. “Prior till now, IPMAN members do get our supplies from the NNPC depots at N148.17k, but since it’s not available in these depots, the private depot owners in Lagos now sell to us at a price of N215.30k, excluding the cost of transportation and other handling and overhead costs.”

“So, by the time we add other overhead cost to the price of purchase, it brings the landing cost of fuel to between N245 and N250 per litre, excluding transportation, which costs charges N15 per litre, from Lagos to Abeokuta depending on the location to offload such.

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