Fuel scarcity looms – IPMAN warns

Independent Petroleum Marketers Association (IPMAN) on Monday lamented over the inability of the Depot and Petroleum Products Marketing Association (DAPPMA) to secure the Federal Government’s approval for selling the Premium Motor Spirit (PMS) petrol at N125 per litre.

Recall that Federal Government on Wednesday, last week reduced the pump price of the product from N145 to N125 per litre.

NEWSCASTARS.COM learnt that IPMAN National Vice President, Alhaji Abubakar Maigandi, who spoke with The Nation on the phone yesterday, says marketers were concerned about the government’s commitment to the payment of the credit balance between the old and new rate.

His words: “The reduction of the petrol price is a good thing to the marketers. But the only challenge is: How will the government give us the credit balance for the product, which they said we should sell at N125?

“We bought the product for N145 and now the government said we should sell at N125. So, we are looking for how the government will pay the balance.

“We have already written to the Managing  Director of PPMC. He has not responded and our intention is to meet him by tomorrow (Tuesday).

‘’We are expecting the demand to be higher because of the  price reduction.

“The social restrictions as a result of the coronavirus is affecting our sales. You know if there is no movement the demand for petroleum products will become a little less.

“The question is whether the product will be available this year at N125. They (government) should make it available. The government should direct NNPC to start giving marketers the product at N125…”

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