Petrol Will Sell At N195 Per Litre Soon, Says IPMAN

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Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have advised Nigerians to expect a higher petrol pump price soon, alerting that the price may rise to N195 per litre.

IPMAN attributed the development to alleged “inconsistencies” on the part of the Federal Government, the Nigerian National Petroleum Corporation (NNPC), and its subsidiary, the Pipeline and Products Marketing Company, PPMC, on deregulation policy.

IPMAN  said that despite NNPCs assurance of product availability, independent marketers could not access the product from NNPC depots. This has forced them to rely on independent depot owners for supplies.

Speaking to journalists after a meeting in Abuja at the weekend, Chief Executive Officer of Kakanda Oil and Gas Nigeria Limited, Danasabe Kakanda, accused the government 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 for supplies, even though they also own filling stations and compete with the marketers.

His words: “With the inconsistencies of government, Nigerians should expect the price of fuel to be between N190 and N195.”

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