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Our Members Sell Petrol At N196 Per Litre, Says IPMAN

IPMAN PRO, Yakubu Suleiman said retail outlets selling beyond the appropriate price are not members of the association.


IPMAN PRO, Yakubu Suleiman on Channels Television’s Sunrise Daily programme on Wednesday, May 31, 2023

 

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members across the country still sell Premium Motor Spirit also known as petrol at N196 per litre despite the removal of fuel subsidy announced by President Bola Tinubu during his inaugural speech on May 29, 2023.

“Subsidy is going to end by June and we tried to inform and highlight to our members not to our members, they should not panic, they should just continue selling the product at their filling stations at the appropriate pricing,” IPMAN National Public Relations Officer, Yakubu Suleiman said on Channels Television’s Sunrise Daily programme on Wednesday.

“Virtually all the stations are selling at the appropriate pricing,” he stressed.

Asked of the “appropriate pricing”, Suleiman said, “Some stations when you go there sell like N195. Some sell at N196.”

 

A fuel queue in Abuja, Nigeria on Tuesday, May 30, 2023. Photo: Taiwo Adeshina

 

Further asked whether the price band should not be beyond N195 and N196 per litre, the IPMAN executive said, “Of course, that is the stipulated and that is the normal price the filling stations used to sell even before day before yesterday’s announcement by Mr President.”

 

 

The IPMAN spokesman, who cautioned Nigerians against panic buying, said refined petrol without subsidy payment will come into force by July and not June.

‘100 Filling Stations Shut’

Suleiman said IPMAN Task Force team has been deployed across the country to enforce the N196/litre price, saying about 100 retail outlets have been sanctioned and shut for selling at outrageous amount and exploiting Nigerians.

He said retail outlets selling beyond the appropriate price are not members of IPMAN.

“We have a task force that goes around all the filling stations in the country. I want to assure that there are there working and any filling station caught increasing the price just because of this announcement, there has to be a penalty for that. I want to assure Nigerians not to panic,” the IPMAN spokesman stated.

Conversely, our correspondent observed that the vital product is currently being sold in filling stations across the country as high as N300 to N600 per litre even as fuel queues mount up on major roads, inhibiting vehicular movements.

‘Subsidy Removal Only Answer To Make Nigeria Great’

Furthermore, the IPMAN executive said that the deregulation of the oil sector and subsidy removal is the only way to make Nigeria great.

“IPMAN’s position is that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is supporting or has supported the deregulation of the industry,”

“Removing subsidy is the only answer to make Nigeria great because there is no country that can survive without deregulating the economy.”

 

A fuel queue in a retail outlet in Lagos on Tuesday, May 30, 2023. Credit: Victor Kalu

 

He commended President Tinubu for announcing subsidy removal in his inaugural speech.

“We really applaud Mr President for having the courage to announce the removal of subsidy,” he stated.

Suleiman said Tinubu was only informing Nigerians that there is no more subsidy, noting that the administration of former President Muhammadu Buhari has announced subsidy removal by not making provision for it beyond June 2023 in the budget for this year.

The IPMAN spokesman said refined petrol without subsidy payment will come into force by July and not June.

He maintained that though discussions with stakeholders are important, the way to go is subsidy removal.

The IPMAN spokesman urged Nigerians not to engage in panic buying as Premium Motor Spirit also known as petrol is sufficiently available in the country at the moment.

NLC, FG To Meet Today

Meanwhile, the Federal Government representatives are expected to meet with the leadership of the Nigeria Labour Congress (NLC) today (Wednesday) by 2pm over the planned removal of fuel subsidy.

This was disclosed by NLC National President, Joe Ajaero, who was also a guest alongside IPMAN spokesman on Channels Television’s Sunrise Daily programme on Wednesday

“Government seems to have shown interest in discussion. As at last night, they reached out and we have fixed 2pm today (Wednesday) to commence discussion,” .

“There, all other issues will discussed because you can’t just say there no subsidy and then you are not producing and leave us to the vagaries of the market, to people who want to sell the product they bought for N10 for N100 to maximise profit. If there is no more garri, we must find out what to eat.”