Nigeria In One Minute
We buy petrol at N162, can’t sell at N145, says IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it is impossible to continue the sale of Premium Motor Spirit (PMS) at N145.
Speaking yesterday in Abuja, the Vice President of IPMAN, Abubakar Shettima, said members of the association now buy products at ex-depot price of about N162.00 instead of the official price of N133.28 per litre.
Shettima said marketers, who have paid the NNPC for products are running at a loss daily because products were not delivered to them.
He debunked allegation by the NNPC that marketers were diverting products, insisting no marketer under the association would divert product when they are unable to meet demand from their stations.
The Guardian, February 9, 2018
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