Increase In Fuel Price Breeding Uncertainty, Depot Owners Haven’t Stated Rate, Says IPMAN  

The Independent Petroleum Marketers Association of Nigeria (IPMAN) President, Abubakar Maigandi, has expressed concerns over the recent changes in the petrol prices in Nigeria.

Maigandi, in an interview with ARISE News on Wednesday, revealed that the sudden increase of prices from N617 to N897 has left marketers in a state of uncertainty.

“There are changes in price because we received the information about the change in price Tuesday, that is from the normal price that we have been selling… They have added N240 per litre.

“Whenever there is a change in price, we independent petroleum marketers already have some outstanding tickets with the NNPC Limited.”

Maigandi noted the impact of the price change on their business operations. He said, “We are waiting to hear from them, whether they can be able to load our product or what they intend to do, so that is what we are waiting for,” Maigandi said.

 Maigandi continued, “Often our trucks are in their various depots where we have already paid through the NNPC and are waiting for their loading.

“Immediately they load our trucks, definitely we are going to convey these trucks to our filling stations and start selling.

“Depot owners that we rely on haven’t given us the rate that they are going to sell their product,” he said.

Maigandi also discussed the new phase of business due to the price change and the NNPC’s involvement.

He said, “What we are learning is that we are waiting for them to start loading our trucks, but they have been promising us that very soon they would start loading.

“Our source of supply normally is in two to three forms; we buy directly from NNPC and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), and sometimes we buy from through the Major Energies Marketers Association of Nigeria (MEMAN).

“The DAPPMAN, up until now, they have not fixed their price; our trucks are there, so we are waiting for them to fix the price so we can start loading.

“The remaining products we have in our petrol filling station, since yesterday, we have asked all our marketers to start selling the product so that there would be no issues.”

The IPMAN President welcomed the news of the Dangote refinery producing petrol, added that “It’s a welcome development; if Dangote has started loading, we really appreciate because we know by the time he starts supplying the product, the product would be available to Nigerians.”

Maigandi emphasised IPMAN’s role in the new Dangote refinery era, he said, “We independent petroleum marketers have almost 85% retail outlets in the country, so anybody that brings business, definitely we are going to participate fully.

“We are waiting for him to start so we can carry our offer to him to see how he can partner with us.

“We have not made any arrangement yet because we did not get the notice that Dangote has started,” he said.

He also called for regulatory intervention to protect the interests of independent petroleum marketers.

He said, “The way things are going now, I know we may reach that because we are still in contact with the NNPC and other regulatory agencies that they should allow us, even if they won’t allow us to import.

“Whoever is importing should give us our quota, our direct allocation instead of going through a third party to buy products.”

Boluwatife Enome

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