IPMAN Debunks Hoarding, Hints On Price Increase

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), River State, has debunked the rumour making rounds that some filling stations in Port Harcourt were hoarding petroleum products in anticipation of an increase in the pump price.
The Chairman IPMAN, Rivers State, Dr Joseph Obele, who spoke to newsmen at the weekend said any filling stations that did not dispense fuel must have run out of supply.
He said that some filling stations were out of supply due to the inability of the depot to import the products.
According to him, “we have a responsibility to provide service to the public, so there is no how we will deliberately shut down our filling stations because we want to make profit. I am putting it to you that our people are running out of stock arising from depots not importing anymore. We want to sell but, there’s no depot selling at the moment.
“Today, within the Port Harcourt depot request for my people is close to 300. Marketers want to buy but the stock they have cannot go up to 40 or 20 persons, arising from the fact that the international market price is no longer the same.
The IPMAN boss said that the landing cost of petrol at international market is currently N180.00 per litre.
He said, “today, it’s N180.00 per litre for you to import petroleum product from outside the country and landing it at the ports of Nigeria. No importer can import at N180 and sell to you, so what the marketers are saying is, allow us to import at N180 and sell, and probably Nigerians will be buying fuel at N200 per litre or N210 per litre, but labour said no, don’t increase, so the conflict points we are, right now being that labour gives way for marketers to import and sell based on the landing cost or Federal Government quickly approaches the National Assembly to make provisional supplementary budgets”.
In a related development, the National Chief of Staff, Petroleum Retail Outlet Owners Association of Nigeria (PETROAN), Mr Emmanuel Inimba, has enjoined the Federal Government to give concession for the privatisation of local refineries.
Inimgba said, “government must make these refineries work. If government does not want to make these refineries work, let them bring in private investors. We, PETROAN, are willing and we have the capacity. Let there be no monopoly, let us buy these refineries. We are also looking at these modular refineries as well, give out the license and let us buy these refineries. See how we can work on it. See how we can bring it to bear. Refine products, no matter what, weather in small quantities or whatever. It will also get to the public we will get products mainly from the private sectors, just for assisting the epileptic state of the four refineries we have in Nigeria.

By: Tonye Nria-Dappa