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IPMAN urges FG to compel tank farm owners to comply with pump price

The Independent Petroleum Marketers Association of Nigeria (IPMAN), in Enugu, has called on Federal Government that rather than forcing marketers to sell at N86.50k it should first enforce the N77.66k on tank farm owners.

The Enugu depot chairman, Chief Ikechukwu Nwankwo, also told the Daily Times that due to non-allocation of the product at Nigeria National Petroleum Corporation (NNPC), his members had been sourcing for products through other means with attendant cost.

He said no marketer in the state would sell below the cost price adding that he himself bought petrol in Warri, Delta State, at N108 per litre, on Tuesday.

“The present cost of fuel per litre in Enugu is between N125 and N130 because the landing cost per litre is between N115.00 and N120.00.

“Tell me how one can sell at N86.50 if the landing cost to the state is N130.

“With this you will agree with me that it will be impossible to sell Premium Motor Spirit (PMS) at N86.50”, he said.

Nwankwo advised the Department of Petroleum Resources (DPR) to direct its energy at ensuring that private tank farm owners sell petrol to marketers at N77.66k federal government approved price.

He assured that if marketers get petrol at regulated price that his members would not hesitate to sell at N86.50.

“Marketers are not responsible for the high cost of petroleum product. Government must first regulate the illegal activities of private farm owners and stop them from exploiting us before we can sell at the approved price”, he stressed.

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