High Cost of Petrol in South-east Worries IPMAN, Urges FG to Intervene

David-Chyddy Eleke in Awka

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reacted to the high cost of fuel in the south-east, calling on the federal government to make petroleum products available to the masses.

The group said Nigerian masses were in agony over the scarcity of petroleum products, leading to the inability of their members to get products to dispense to consumers.

The Chairman of Enugu Depot of the group, Mr. Chinedu Anyaso stated this in an interview with journalists.

A litre of fuel presently sells for as high at about N350 in some petrol stations in Anambra State, while some still dispense at N300. This is a far cry from the federal government approved pump price of the product, which is N185 per litre.

Anyaso said: “The NNPC has not been supplying fuel to independent marketers for a very long time. We source for the product from private tank farm owners who sell at very exorbitant prices.

“As at 31st of December 2022, marketers were buying the product at the cost of N237 per litre, then pay N3 loading cost and N15 for transportation which brings the landing cost to about N255 and N260 per liter depending on location.

“Despite the high cost, getting the product is even becoming very difficult, as most private tank farm owners are not selling to marketers.”

Speaking on how the problem could be solved, the IPMAN boss said there was need to resuscitate all the refineries across the country, and that the federal government should come out clear on the issue of oil subsidy to enable Nigerians plan their activities.

He blamed the latest scarcity and high cost of the product on the NNPC, which has the monopoly of refining and importing the product into the country but has not lived up to expectations.

Anyaso noted that if the NNPC had imported enough products as they always claim, petrol would be available and thereby force the price of the commodity down.

“The federal government should flood the market with products, and definitely the price will come down. They promised us since that the Port Harcourt refinery is going to come on stream and we have not seen that.

“Warri refinery, Kaduna refinery nothing. Dangote refinery they said early this year, we are equally watching. Once these refineries are producing optimally, it will solve the problem of local petroleum needs of the country.”