Amid fuel scarcity re-emerging in states such as Abuja, Oyo and Lagos, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has lamented the displeasure of its members to operate under harsh conditions.
Long queues have returned to several areas due to the closure of some petrol stations emanating from the scarcity of the product.
The Chairman of IPMAN, Lagos Satellite Depot, Ejigbo, Mr Akin Akinrinade, who spoke to journalists on Monday, blamed the development on issue of pricing of the product.
Akinrinade noted that given the current realities in the market, the N165 per litre as pump price of Premium Motor Spirit (PMS) fixed by the government could no longer hold, adding that the product should be sold at a retail price of N180 per litre at the fuel stations.
He said: “As you can see, the queues are back and this is the second time we are witnessing it this year. However, this one is peculiar in the sense that for a particular reason, IPMAN members decided to shut their stations. This is not because we are on strike, but because we can no longer do business under this condition.”
Akinrinade, who stressed that IPMAN members ought to be getting supply from the Pipelines and Product Marketing Company (PPMC), noted that the products were yet to be delivered, leading members to patronise private depots for products amid heavy loans.
“Now, 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.”
It would be recalled that N4 trillion was approved in April by the Buhari-led administration for petroleum subsidy.
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