The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday asked marketers across the country to begin dispensing petrol at N180 per litre and above.
This was disclosed by the Lagos Zonal Chairman of IPMAN, Akin Akinrina at an interview with Channels TV.
He stated that the regulated price of N165 is no longer going to be possible as he gave directives for the increase of price.
He explained the reasons behind the fuel scarcity, stating that they have not shut down or on strike, but that the business environment has been hostile to them and business cannot thrive under the present conditions they’re expected to work in.
He mentioned that petroleum marketers have found it difficult to operate, considering the dependence on diesel whose price has skyrocketed.
He said, “Members of Independent Petroleum Marketers Association of Nigeria IPMAN have shut down their stations, not because we are striking; we are not on strike.
“Rather, the business environment has been very hostile to us such that we can no longer do business under this condition. For you to load a litre of petrol, you pay in N162 per litre.”
He however disassociated the situation with the removal of subsidy or deregulation of the petroleum sector.
He listed the high cost of buying petrol at the depots, the high cost of diesel for running their station, and the increased cost of freight as the major factors responsible.
Akinrinade added that it is no longer possible for them to sell petrol at the government stipulated price, as he gave a breakdown of the cost implications of associated with accessing the product from the depot to the station and even to locations outside the state.
He has stressed the fact that the government regulated price won’t work with them at this point.
“You now have to add the cost of transportation which is between N6 to N8, depending on the distance within Lagos,” he explained.
“If it is outside Lagos, it is much more than that. So, if you add N8 to N162, you already have N170 and the government which is the regulator wants us to sell at N165; we have not even added the charges at the depot and the running cost at our stations.”
