Price Hike: Oil Marketers to Boycott Supply of Petrol

July 6, 2020
oil marketers

By Adedapo Adesanya

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to halt the distribution of petroleum products in all South West depots following the recent increment of the prices of petroleum products.

This line of action was disclosed by IPMAN South-West Chairman, Mr Dele Tajudeen, at a press conference, where he noted that the decision of the Petroleum Products Pricing Regulatory Agency (PPPRA) to increase the pump price of petrol without consultation with key stakeholders.

According to Mr Tajudeen, the increment of the product’s price was unfavourable. The price band was put at N140.80 to N143.80 per litre of petrol, up from N121.50 to N123.50.

According to the leader of the oil marketers, the federal government moved the depot price from N111.78 to N133.72 without considering the marketers’ plights.

The Zonal IPMAN Chairman said, “I wish to state that the recent pronouncement of PPPRA/NNPC of increase in ex-depot/pump price of PMS is not acceptable to IPMAN South-west. The decision, without consideration of the corresponding increase in our profit margin, is unfair and inhuman.

“The increase translates to almost a million naira on every 45,000 litres while our profit margin was reduced, leaving us worse than before. As a responsible association, we demand the NNPC to revert to the earlier ex-depot price of N130.72 sent to us or we boycott supply of petroleum products”.

He said the ex-depot price of N111.78 per litre was increased to N130.72 last Tuesday and then to N133.72 the next day.

He then called on the government to be fair to marketers as they pledged their part in ensuring the distribution of the products around the country.

“This is not a threat but the government should be sensitive to the plight of marketers. We restate our commitment to the uninterrupted supply of petroleum products in the interest of the masses and Nigeria as a nation, but the government must be fair to marketers,” he added.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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