Oyo State Chapter of Independent Petroleum Marketers Association of Nigeria has disclosed private tank farms have been selling fuel beyond the regulated price of N77.66k per litre to its members and that is why there is a hike in pump price.
Chairman of the association, Olakunle Busari reportedly explained that “For the avoidance of doubt, members of our association are ready to sell fuel to the masses at N87 per litre. Members of IPMAN are determined to work with the present government to ensure that life is made bearable for the masses.
“However, marketers are facing serious challenges, while people erroneously think that we smile to the bank, whereas our business is suffering a great deal. As at today (Friday), the Nigerian National Petroleum Corporation depot in Ibadan that services Oyo and Osun states has not loaded a single litre in the last four months.
“As a result of this, IPMAN members are forced to patronise private depot operators in Lagos, who sell to us at exorbitant price. If we add the cost of transportation and other depot expenses to the price we buy in Lagos, it makes it virtually impossible for us to sell at the official pump price.”
He also added that it takes about eight weeks for a marketer to load a tanker of fuel at the NNPC depot in Lagos.
He said “Another issue affecting us is the lopsidedness in the allocation of products between IPMAN, major marketers and NNPC Retail Limited. These sets of marketers are given undue preference to the detriment of IPMAN members. It is important to note that the number of major marketers and NNPC retail outlets put together is not up to half of the number of IPMAN outlets. This action by the NNPC has adversely affected the daily volume of product given to IPMAN for loading.”
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