IPMAN Blames Private Depot Owners For Hike In PMS Price

Hamilton Nwosa
Writer
PMS Customers Decry Under Dispensing By Filling Stations

Ad

OPEC+’s Strategic Pause Signals a Shifting Oil Power Balance

OPEC+'s "strategic pause" of rolling over production quotas is a reaction to a looming structural surplus, indicating the alliance's waning ability to dictate global oil prices. Non-OPEC+ producers, particularly the United States, Brazil, and Guyana, are driving persistent supply growth that is eroding OPEC+'s leverage and ability to enforce a durable price floor. The current…

Nigeria On Track to Defeat Terrorism — US Lawmaker Declares

By Abiola Olawale A United States congressman, Rep. Riley M. Moore, has expressed optimism that Nigeria is on track to defeat terrorism if the resolutions reached during recent high-level security discussions are implemented. Moore made this known in a press statement posted on his official X handle following the conclusion of a closed-door engagement between…

Super Eagles Begin AFCON Preparation With Friendly Match Against Egypt on Dec 16

By Abiola Olawale ​Nigeria’s Super Eagles are set for a clash against continental rivals, the Pharaohs of Egypt, in a rescheduled pre-tournament preparation match on Tuesday, December 16. The anticipated Egypt friendly is part of the team's final training roadmap for the 2025 Africa Cup of Nations (AFCON 2025) in Morocco. ​The match was originally…

Ad

The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday blamed private depot owners for the hike in the pump price of Premium Motor Spirit (PMS) in some parts of Nigeria.

IPMAN’s National President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) that some of the private depot owners had not reduced their ex-depot price for PMS, also known as petrol.

NAN reports that some independent marketers are still selling PMS from between N180 to N200 per litre in their stations, especially in the interior areas of Lagos and Ogun States.

ā€œSome of our members are still buying products at higher ex-depot prices, hence you see that some of them are selling more than the approved pump price of N165.

ā€œIPMAN is appealing to the government and relevant authorities to engage these depot owners to revert to the old price regime so that there will be some kind of uniformity in the price of petrol,ā€ he said.

Okoronkwo said the scarcity of PMS experienced across the country in the past few weeks was almost coming to an end.

He advised the Nigerian National Petroleum Company (NNPC) Ltd., to increase the volume of products being supplied to Port Harcourt, Calabar and other coastal areas to ensure a smooth distribution.

On the compensation of motorists affected by the imported off-spec petrol, he said IPMAN members were still compiling the list which would be subjected to scrutiny.

Okoronkwo said: ā€œWe are compiling the list and very soon marketers will present it to the relevant government agencies.

ā€œWe want to make sure that some unscrupulous persons don’t take advantage of the situation to exploit the government.

ā€œWe believe that those affected will be compensated at the end of the day and are advising them to be patient and law abiding.ā€ (NAN)

Ad

X whatsapp