Don’t buy products you can’t sell at N195/litre’, IPMAN advises members

Don’t buy products you can’t sell at N195/litre’, IPMAN advises members

Amid biting scarcity of petrol across the country, independent marketers have alerted members on the proposed enforcement of N195/litre pump price by the government.

It was learnt that the combined Nigerian National Petroleum Company Limited, Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, security agencies and the downstream regulator had on Saturday agreed that petrol be sold at N195/litre.

The proposed agreed price, according to independent marketers, was tough especially due to the high ex-depot price of the product.

Given the fact that independent marketers control huge percentage of the filling stations in the country, this development will further deepen the woes faced by Nigerians regarding scarcity of the product in most parts of the country.

In a memo issued by the Public Relations Officer, IPMAN Ibadan Depot branch, Mojeed Adesope on Saturday, IPMAN urged his members not to purchase the product they would not be able to dispense at that price.

READ ALSO:IPMAN blames long fuel queues on Nigerians seeking cheaper prices

Adesope said: “The top management of NNPC, other relevant authorities in the downstream sector of the economy as well as all the security agents in the country met on Tuesday, January 31, 2023 to begin the enforcement of pump price of PMS at N195/litre at all the filling stations across the country with immediate effect.

“Towards that end, enforcement will commence effective from Monday, February 6, 2023 to enable you to dispose of all your remaining stock on or before the enforcement date.

“Members are hereby implored not to purchase products that they would not be able to dispense at N195/litre. The above information should be given wider spread/circulation in order not to get any member caught unawares. You are strongly advised to heed this information.”

Meanwhile, fuel scarcity had thrown many Nigerians into hardship in recent times. Commuters had had to pay higher for the product sold at outrageous prices in the black market in most parts of the country.


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