IPMAN Condemns Product Sharing Formula

The Independent Pe
troleum Marketers Association of Nigeria (IPMAN) says it would stop operation if the Nigeria National Petroleum Corporation (NPPC) refused to regularize alleged imbalances in the sharing and distribution formula of products to marketers.
IPMAN gave the warning as part of its resolutions reached at the end of the association’s stakeholders meeting Monday in Port Harcourt, the Rivers State capital.
Addressing newsmen, the chairman, IPMAN Elders Council, Dr Emmanuel Ihedigbo, alleged that the body which prides of about 85 per cent outlets was being slighted in the allocation formula.
He demanded 60 per cent to meet up its service delivery to members of the public.
Ihedigbo described as unacceptable to the body, an arrangement where petroleum products were allocated to private depots and sold to major marketers and mega stations.
The IPMAN Elders Council chairman urged NNPC  to designate four tank farms in Port Harcourt, one in Warri, two in calabar and five in Lagos.

Chris Oluoh