‘We May Start Selling Petrol Above N145’ – IPMAN

‘We May Start Selling Petrol Above N145’ – IPMAN

The Independent Petroleum Marketers Association of Nigeria has urged
the Federal Government and the Nigerian National Petroleum Corporation
to ensure that private depot owners maintain the official ex-depot price
of Premium Motor Spirit (petrol) at N133.28 per litre.  

The Chairman, IPMAN, Ore Depot, Shina Amoo, who said this in an
interview with Punch, stated that independent marketers might soon start
selling beyond N145 per litre if depot owners continued to sell between
N136.50 and N137 per litre.

Amoo urged the NNPC to prevail on depot owners not to sell beyond the
official ex-depot price in order to enable marketers to sell to
consumers at N145 per litre.  

He said, “Private depot owners have increased the ex-depot price of
PMS beyond N133.28 per litre. We bought a litre of PMS between N136.50
and N137 per litre from private depot owners last weekend. This can
affect the pump price at which independent marketers will sell the
product, and it will certainly be beyond the N145, which is the official
pump price.  

“We, independent marketers, are law-abiding. We don’t want to sell
above the official pump price and that is why we are urging the
government to do something about it and make the product abundantly
available. They should monitor private depot owners to make sure they
don’t sell above the official ex-depot price of N133.28.  

“The NNPC is the sole importer and nobody has the right to increase
the price but if they continue to sell to us above the official ex-depot
price, we will have no option than to increase the pump price above
N145 per litre. The increase in price by private depot owners will
eventually push the burden on the marketers and final consumers.”  

Amoo lauded the Federal Government for the rehabilitation of the
Ilorin Depot of the NNPC while urging it to revive the Ore Depot as well
in order to reduce the problem of transportation of petroleum products
and to create more jobs in the area.

The NNPC Group General Manager, Group Public Affairs Division, Ndu
Ughamadu, had in a statement dated March 30 warned private depot owners
against increasing the ex-depot price.  

He said, “The subsisting ex-depot petrol price of N133. 28k per litre
was consistent with the Petroleum Products Pricing Regulatory Agency’s
template and should be adhered to.”     Ughamadu stated that NNPC held
stock of over one billion litres, adding that imports of 48 vessels of
50 million litres each had been committed for the month of April alone.