IPMAN kicks as private depots sell petrol for N102/litre

Independent Petroleum Marketers of Nigeria (IPMAN) yesterday raised a fresh alarm that private depot owners sold Premium Motor Spirit (PMS) for N102 per litre.

Following the new price regime which the Petroleum Products Pricing Regulatory Agency (PPPRA) activated last month, depots were expected to sell the product to marketers at N77 per litre.

Besides, all Nigerian National Petroleum Corporation (NNPC) affiliate petrol stations were supposed to sell petrol at N86 per litre, while independent marketers were expected to sell for N86.50 per litre.

But IPMAN Vice Chairman, Alhaji Abubakar Dankingari, who spoke on phone yesterday, said private depot owners are selling fuel for N102 per litre. According to him, members of the association simply refused to patronise them because of the obvious colossal losses they would incur.

“If you sell it at N86.50 automatically you are going to lose a lot of money. That is the reason why some of our members are selling above government approved pump price. They are those  who buy from the private depots. Even now, I called one of the directors in NNPC, I told him about the situation and he said he is aware. “

The Nation

Share this article:
join our mailing list

Do you want more articles like this delivered to your inbox?

Join our mailing list to receive the latest news and articles.

PS: Your email WILL NOT BE SPAMMED. See our Privavcy Policy for detail.

Thank you for subscribing. You are now part of our mailing list.

Show/Hide Comments

0 thoughts on “IPMAN kicks as private depots sell petrol for N102/litre

Leave a Comment

join our mailing list


Get all the latest and most popular news, tips, articles and information from our website delivered straight into your inbox.

Thank you for subscribing to our mailing list. You will now start recieving our periodic newsletter.

Powered byRapidology