IPMAN to sell fuel at N123.50 per litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday urged the Department of Petroleum Resources (DPR) to compel private depots owners to operationalize the new pump price of Premium Motor Spirit (PMS) otherwise known as petrol.

It however assured Nigerians that its members were ready to sell petrol at the new price of N123.50 per litre announced Tuesday night by the Petroleum Products Pricing Regulatory Agency (PPPRA ), if hiccups at private depots were eliminated.

The new price, according to the PPPRA Executive Secretary, Mr. Abdulkadir Saidu, took effect yesterday.

“The guiding price which becomes effective April 1,2020, shall apply at all retail outlets nationwide for the month of April, 2020.

“PPPRA and other relevant regulatory agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.

Speaking with The Nation on telephone yesterday, IPMAN’s National Vice-President, Alhaji Abubakar Maigandi, disclosed that private depot owners were yet to comply with the previous reduction of pump price before the announcement of the new price of N123.50.

He said, “They (private depots) have not complied. They are still selling above the stipulated pump price. They are selling at the rate of N115 to N117 per litre to marketers.

“They are supposed to sell at the rate of N113 per litre. This was the depot price as at Tuesday before the PPPRA announced a further reduction.

“I think that the government should try as much as possible to ensure that the private depots complied with the stipulated pump price.”

IPMAN President, Sanusi Fari, however assured that the association would do everything possible to ensure that its members sell at the new price of N123.50 per litre.

Fari also pledged independent marketers readiness to work in sync with the leadership of the National Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum Tanker Drivers (PTD) to mitigate the pains occasioned by the sit-at-home order of the Federal Government.

Fari said despite the new price cut, petroleum marketers would continue to ensure that filling stations across the country remained open to serve the public.

The association however appealed to the Petroleum Equalization Fund (PEF) to sustain payments to petroleum product marketers to ensure availability of products across the country.

Fari said, “We have directed our members to continue operation in line with the directives of Mr. President by ensuring that our petrol stations remain open while observing the strict guidelines from our health authorities.

“We, like other Nigerians, are calling on our members to sacrifice by obeying the directives of Mr. President.

Earlier yesterday, the Onitsha Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA), had urged the Federal Government to urgently enforce compliance by IPMAN.

The chamber’s Vice-President, Finance, Mr Sunny Nwachukwu, said, “The irony of this lowered official pump price of petrol is on the compliance by the independent marketers in virtually all filling stations.

“This( new price) is yet to be effected by filling stations.

“We call on the PEF management board to continue payment of marketers’ bridging claims as promised, to lessen our burden, especially at this time to enable us continue to serve the public in the interest of our country, Nigeria.”

“Had this price review been the other way round, that is upward review, every filling station would have quickly adjusted their dispensing meters .”

Nwachukwu described the non-compliance attitude of oil marketers as a clear corrupt practice being perpetrated against the people.

He added,“We, in the Organised Private Sector (OPS) and ONICCIMA, call the attention of the federal government and the Petroleum Resources Ministry to this act.

“The monitoring team from the PPPRA, Pipelines and Product Marketing Company (PPMC) or the Directorate of Petroleum Resources (DPR) should please do something about this reluctance and lawlessness, exhibited by these products marketers all over the nation.”