IPMAN absolves members of blame over high fuel price in Lagos

Urges FG to set up refinery in each state 

LAGOS State Chapter of Independent Petroleum Marketers Association of Nigeria (IPMAN) has absolved its members of blame over the current hike in fuel prices in the country.

Rather, it laid the blame on private petroleum distributors who sell their fuel at landing cost of N105 or N110 per litre, making it difficult for the IPMAN marketers to sell at controlled price of N87 per liter.

IPMAN, in a statement in Lagos yesterday by its state Chairman, Chief Adebayo Ajayi said his members had no option than to buy the fuel at either N105 or N110 per litre and re-sell it so that the economy of the nation would not be grounded.

He said this is because the NNPC depot where the IPMAN members were registered had no fuel to supply presently. Chief Ajayi said the explanation became necessary in order that members of the public would know the truth about the fuel crisis hitting the nation and who to blame.

To solve the problem of fuel scarcity in Nigeria permanently, the IPMAN chief advised the Federal Government to set up a refinery in each state of the federation, and as well deregulate fully, the oil sector.

Ajayi also urged the government to stop the oil subsidy, describing it as a “big fraud and a drain on our commonwealth. “There is news all over the country, blaming IPMAN marketers that they are selling above the pump price.

This is one of the issues concerning the fuel palaver that I want to put across to Nigerians. Nigerians should take note that members of IPMAN are not shylock and greedy businessmen who have no feeling for their fellow countrymen and women. “Presently, the landing cost from the private depots is N105 or N110 per litre.

There is no way we can sell the fuel at N87 per litre. It is IPMAN that is still keeping Lagos and Nigeria as a whole moving. If you look at all the major marketers’ filling stations, most of them have no fuel to sell.

The mega filling stations are also not selling because they source their fuel from NNPC depots. Because we are independent oil marketers, we buy our fuel from many other sources.

The point the IPMAN is making, is that the private depots are not selling fuel to the IPMAN members at government- controlled prices, but at higher prices,” Chief Ajayi stated.

He went on, “The public should note that we are making sacrifices for the economy to move forward, because if not, Lagos State and indeed the entire nation would have been shut down. The IPMAN is playing a significant role to drive the economy of this nation. Therefore, its members should not be blamed for the high cost of fuel now going on in the country.”

At least, IPMAN members have over 2, 000 fuel stations in Lagos State alone, according to Chief Ajayi. The IPMAN chief called on Governor Akinwunmi Ambode to fast track the establishment of at least two oil refineries in Lagos State, stressing that there was ready market for the product.