'Why we can't sell fuel at N87 per litre' - Independent Marketers

IPMAN however urged the Federal Government to direct the private depots to sell to its members at N77.66, so that they too can sell to Nigerians at N87 per litre

Fuel scarcity imminent as marketer’s insist on payment of N500bn subsidy debt

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has lamented the resurfaced fuel scarcity that Nigerians are witnessing lately, stating that its members regret inevitable the situation.

Speaking to newsmen on Tuesday in Niger state, the Chairman of Minna branch of the association, Alhaji Adamu Erena, said the marketers buy the private oil depots above the regulated price of N77.66 per litre.

"We don’t have the intention of making our people suffer by selling petrol above N87 per litre approved by government, this is because we sell as we buy from the private depots.

"The truth is that NNPC cannot supply us with enough fuel, so the private depots are cashing in on that to do what they want.

"When you go to the private depots to purchase PMS, you are made to pay N77.66 to the company as approved by government.

"Then you are made to pay the difference of N10 in a private bank account, totalling N87. So, how can you sell at the same N87? It is not possible, if you do, you will be out of business," he said.

Erena said the private depots sell petrol to IPMAN members at N87 per litre, pointing that "same government regulating the process expects them to sell at the same rate after transporting the product.

"The DPR is expected to regulate the price of fuel from the depots to our various filling stations but it is not doing that, rather it is clamping down on filling stations of members.

"When we purchase the product at N87 or more per litre, you don’t expect us to sell at the same price," he said.

He however urged the Federal Government to direct the private depots to sell to its members at  N77.66, so that they too can sell to Nigerians at N87 per litre.

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