Fuel will be sold at N165 per litre – IPMAN

Tina Amanda

The Independent Petroleum Marketers Association (IPMAN), has called on the Federal Government to change its policy on monthly increment of Petroleum Products in the country.

In an interview with our correspondent Tina Amanda, the State Chairman of IPMAN, Dr. Obele Ngechu, emphasized that such arbitrary increment in prices of commodities on a monthly basis does not exist anywhere in the world.

According to him, the association had made several pleas and threats to the government for a change of policy, but their pleas have fallen on deaf ears, so that they have directed all marketers to adjust their meters to the new pump price.

“Just this morning, we arrived the Depot to see a memo from PPMC directing that we petroleum Marketers will be buying at the rate of one hundred and fifty-one (151) naira per litre starting from today. With the additional margin of twelve naira, that is to say consumers will be buying at the rate of 163 -165 per litre.

“We as stakeholders in the sector we have been complaining, agitating and pleading that government should change the policy, but nothing has been done”

He however stressed that the increase in the pump price of petrol will definitely bring untold hardship on consumers, who are yet to adjust to the previous increment.

“There is nothing we can do, it is really affecting us for strategic and basic plan for bulk purchase, for instance a marketer may intend to buy a million of quantity purchase and the next thing you see is an increment or reduction downward or upward.

“It is quite unfortunate that this increment will bring hardship upon the Nigerian people, because the price of things will definitely be affected and this will really make things more difficult than it is already.

“All our members across the nation have been directed to adjust their pump price, to effect the new change by the federal government”