Nigerians Should Brace up To Buy Petrol For N195 - IPMAN - EDU-BIZNEWS


Sunday, February 21, 2021

Nigerians Should Brace up To Buy Petrol For N195 - IPMAN

Nigerians have been asked to brace up for an increase in pump price of petrol  from N162 per litre to between N190 and N195, following the recent rise in  the price of crude oil at the global market  .

Edu-Biznews recalled that that the Nigeria National Petroleum Corporation (NNPC) had during the week, assured Nigerians of adequate stock of the product and ruled out any form of hike in the pump rise in this month, while warning independent depot and marketers against hoarding the product, so as to create artificial scarcity.

The corporation added that its scheduled meeting with organised labour would work out acceptable solution to the situation, to avoid making life unbearable for Nigerians
But members of the Independent Petroleum Marketers Association of Nigeria, IPMAN, speaking with  newsmen after their meeting in Abuja over the weekend, described the current price regime as unrealistic, saying they depend largely on private depots for supply instead of NNPC, making it difficult for them to survive in the business

The oil marketers  lamented over what they described as “inconsistencies” on the part of the Federal Government, Nigerian National Petroleum Corporation and its subsidiary, the Pipeline and Products Marketing Company (PPMC) on deregulation policy.

They said despite NNPC assurance of product availability, independent marketers could not access the product from NNPC depots forcing them to rely on independent depot owners for supplies.

One of the Independent Oil Marketers, Chief Executive Officer of Kankada Oil and Gas Nigeria Limited, Danasabe Kakanda, blamed the government whom he accused of  giving the private depot owners edge over independent marketers.

Kakanda  explained that independent marketers were always left at the mercies of private depot owners from whom they rely on supplies even though they also own filling stations and compete with the marketers.

According to him,“With the inconsistencies of government, Nigerians should expect the price of fuel to be between N190 to N195”.

Another marketer, Chief Executive Officer of Foste Nigeria Limited, Chief Austin Erhabor who spoke with Journalists, urged the Minister of Petroleum Resources, Chief Timipre Sylva through NNPC to clear  air on the deregulation policy of the down stream sector and explain to Nigerians whether they have deregulated the petroleum supply chain or not.

His words,“It is time for them to separate politics from economics. Our business is dying. How can you be talking about deregulation and you are mentioning official pump price”.

Erhabor however made it clear that government and not  marketers should be blamed for the situation, saying  the confusing government policies in the sector  is seriously responsible for the ongoing uncertainty in the supply chain 

“These private depot owners were not supposed to own filling stations. They were supposed to be in the middle between NNPC and the independent marketers. Is it fair for somebody that I am buying from, my competitor, I buy from you, you come and build station close to me, and you are the one that is supplying me, how can I sell? Because if you want me to die off the business, all you need to do is to supply to the level you are selling to me in your depots”, he added.

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