Wednesday, December 7, 2022
HomeWorld NewsNigeria NewsEconomy: IPMAN asks NLC to intervene over increment in #petroleum price

Economy: IPMAN asks NLC to intervene over increment in #petroleum price

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has called on the Nigeria Labour Party and the management of Nigerian National Petroleum Corporation to prevail on the leadership of the Nigeria Union of Petroleum and Natural Gas to lessen their burden by reducing the loading fees.

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The fuel marketers regretted that considering the high cost of diesel to power the station and coupled with the exploitation from private tank depot owners and NUPENG, as various of their associations had met and resolved to withdraw their services across the southeast part of the country, adding that they cannot cope under this harsh environment of doing business, caused by private depot owners and NUPENG.

This was contained in a release forwarded to Wowplus news on Friday in Umuahia, the Abia State capital.

Continuing, IPMAN called on President Muhammadu Buhari-led federal government to revive various moribund NNPC depots within the southeastern zone aimed at ensuring sufficient availability of premium motor spirit, otherwise known as fuel, at a regulated price for the consumers, and indeed, the generality of the populace residing within the eastern zone and its environs.

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The Independent oil marketers in the southeast also threatened to withdraw their services over the increasing hike in the price of premium motor spirit and the continued exploitation of union members by NUPENG.

The petroleum marketers lamented that the private depots are the cause of the hike in the price, stressing that they are buying from them at the cost of N185:00 per liter, adding that after other expenses the price would rise to N200 per liter.

The IPMAN was quoted partly, “It’s no longer news that premium motor spirit is sold at N200 per liter in the eastern part of Nigeria including Port Harcourt, Enugu, Owerri, Awka, Uyo, Cross River, Aba, Yenagoa, Markudi, Lokoja.

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“The real cause of the hike in price is the continuous increment in the price of premium spirits from private deport owners. A liter of fuel is being sold to us at the rate of N185 per liter. When you add transport and logistics including the exploitation by NUPENG in the name of the union fee which is over one hundred and twenty thousand nairas (N120,00) per truck, the price will be more than N200 per liter.

“Our business cannot thrive. Our various associations have met, and we have resolved to withdraw our services should they go on with the increment in petroleum price and unavoidable exploitation using the umbrella body (IPMAN)”.




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