IPMAN Directs Members to Sell Petrol At N87 Per Litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to ensure petrol is sold at the N87 per litre throughout the country especially in states that are presently witnessing selling above the regulated price and under dispensing of products.
Speaking at the end of IPMAN Central Working Committee (CWC) meeting in Abuja, President of IPMAN, Chinedu Okoronkwo, cautioned marketers that selling above the regulated price would attract sanction from industry regulators.
He also charged government agencies responsible for the distribution of petroleum products to ensure IPMAN members get products in order to avoid product scarcity.
While calling on the Federal Government to intervene on its members' behalf in procuring petrol from private and government operated depots, he noted that some dealers are yet to obtain products four months after payments have been made.
He said: "In our CWC today we got complaints about harassment from government agencies especially Department of Petroleum Resources (DPR), and we have advised our members to comply with government approved rates. We are not going to encourage selling above government approved pump price. I want to also use this opportunity to implore government to also talk to the private depot owners to sell the products at a price that our members can access. It takes two to move forward.
He hinted that IPMAN is aware of government efforts at ensuring return of normalcy, saying, "we have said to our members: don't go and sell at a price that would attract the wrought of government. Government has their template and everything, buy at that rate where you can sell within the given rate of N87/litre".
Okoronkwo explained that the meeting dealt extensively on the fuel situation in the country "because you can see that a lot of queues are forming already at the filling stations and it is as a result of not getting enough products from private and government depots.
"Some of our members have paid for over four months without getting the products at government depots and some of our members borrowed these monies from the bank.