New challenges are on the horizon for Nigerians as the Independent Petroleum Marketers Association of Nigeria has dismissed the ex-depot price of Premium Motor Spirit set by the Nigerian National Petroleum Company Limited.
The marketers, operating over 70 percent of filling stations nationwide, have warned that they will cease operations if NNPCL does not reconsider its new petrol ex-depot price of N1,010 per liter.
In an interview on Friday morning, IPMAN spokesperson Chinedu Ukadike made this announcement.
His remarks followed NNPCL’s announcement on Wednesday regarding a new price increase across its retail outlets nationwide, ranging from N998 to N1,030 in Abuja and Lagos State.
The state-owned entity further stated that it would sell the product to marketers at prices between N1,040 and N1,010 per liter.
In response, Ukadike expressed that the ex-depot petrol prices released by NNPCL indicate the company’s intention to perpetuate hardship for Nigerians.
He emphasized that IPMAN members will not accept a petrol price that exceeds what NNPCL charges at its retail outlets.
He further argued that the actions taken by NNPCL cannot be classified as deregulation.
Ukadike pointed out that with the NNPCL ex-depot price set at N1,010, oil marketers who control the majority of filling stations across the country will have to sell the product at N1,200 per liter.
“NNPCL is selling ex-depot in Port Harcourt at N1045 per liter, Calabar (N1040), Lagos (1010).
“We refuse the price by NNPCL. We cannot comply with the price. We will not lift NNPCL petrol, we are not interested.
“NNPCL will continue to suffer the masses. They are selling N998, why are they selling to us above the price they are selling to IPMAN members at N1010, by the time logistics cost is added, the petrol price will get to N1200,” he fumed.
This portends a looming fuel scarcity nationwide.
