Laide Raheem, Abeokuta
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to stop lifting petroleum products in all South West depots over what members describe as “unfavourable increment in the prices of petroleum products.”
IPMAN South West Chairman, Dele Tajudeen, at a press conference, flayed the decision of the Petroleum Products Pricing Regulatory Agency (PPPRA) to increase the pump price of petrol with consultation with key stakeholders.
He said the new price regime of N143.8kobo came as a surprise, noting that the government moved the depot price from N111.78 kobo to N133.72 kobo and pump price to N140.80 kobo without considering the marketers’ plights, a situation he described as “unfortunate.”