Home NEWS Petrol Marketers Explain Fuel Scarcity, Say Fuel Can’t Be Sold For Less Than N180

Petrol Marketers Explain Fuel Scarcity, Say Fuel Can’t Be Sold For Less Than N180

by InlandTown
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Fuel Scarcity

Long queues and cramped up stations have returned as cities all over the country are dealing with the current fuel scarcity.

According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), this scarcity isn’t because the association or its members are on strike. Instead, the association has said some of its members shut down their operations because they no longer want to operate at a loss as well as not want to operate under hostile conditions.

In an interview with Channels Television, the Lagos Zonal Chairman of IPMAN, Akin Akinrinade said,

“As you can see, the queues are back and this is the second time we are witnessing it this year.”

Members of Independent Petroleum Marketers Association of Nigeria (IPMAN) have shut down their stations, not because we are striking; we are not on strike. Rather, the business environment has been very hostile to us such that we can no longer do business under this condition.”

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Furthermore, he added that it was no longer feasible for marketers to sell the product at the recommended price of N165 to a litre. He said,

“These private depot owners have increased the ex-depot price of PMS from N148.17 to N162 per litre. That is the amount they are selling to us. When you factor in the handling charge, transportation and running cost of our stations, you will see that even within Lagos, the minimum we can retail petrol is about N180 per litre.

“We want Nigerians to know that IPMAN members are patriotic citizens and we are not out to sabotage the effort of government because we know this hike in petroleum products prices is not peculiar to Nigeria. The ongoing conflict between Russia and Ukraine has disrupted the supply chain and the Nigerian government is doing its best to mitigate its impact on our nation.”

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