The Independent Petroleum Marketers Association of Nigeria (IPMAN), has assured Nigerians that petroleum products, especially Premium Motor Spirit (PMS), would be made available, urging Nigerians not to engage in panic buying.

The National Ex-Officio of IPMAN (SouthWest), Alhaji Surajudeen Bada, who spoke on behalf of the Association, said the current price adjustment was a result of challenges being faced in buying products from government depots.

Bada, who was former IPMAN chairman, Mosinmi Depot, explained that the inability of its members to buy from government depots made their members be selling above the regulated pump price.

He advised Nigerians not to store petroleum products, saying its members would continue to persevere and be resilient by buying from private depots and selling to members of the public till the products are available in government depots.

He said, “Today the products are not available in the government depots.

“I can tell you categorically that Mosinmi Depot operated last on 16th of March 2022, so where should we get fuel to be sold at the government-regulated price. All of us as of today purchase from private depots at the cost between N167-N168 excluding transport and other loading charges which vary depending on the depot and your destination.

“Sometimes the landing cost is between N175-N180 how then, could any marketer buy at N175 or N180 and sell at N165?”

“Out of 21 government depot’s across the country with of them in Southwest, none is dispensing products to IPMAN.

“It is no longer hidden, it is now public knowledge that Independent Marketers are not getting fuel from government depots, so why are you trying to create artificial scarcity?”




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