We Can No Longer Sell At N165/Liter—IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has explained why there is fuel scarcity in Lagos and other parts of the country.

In the interview with the reporter, Akin Akinrinade, the Lagos Zonal Chairman of IPMAN, insisted they were not on strike.

He stated that the operating environment has become aggressive to their businesses.

Akinrinade also insisted the marketers had not embarked on strike as speculated.

He said, “Members of Independent Petroleum Marketers Association of Nigeria IPMAN have shut down their stations, not because we are striking; we are not on strike,”

“Rather, the business environment has been very hostile to us such that we can no longer do business under this condition. For you to load a liter of petrol, you pay N162 per liter.”

Akinrinade said that it was no longer possible to sell the product at the recommended price of N165 to a liter, adding that the landing cost of petrol was between N175 to N178 naira to the liter.

“Our members can no longer sell (petrol) at N165 per liter; in fact, there is no reasonable person in this business that can sell below N180 per liter, so it is not as if we are on strike,” he added.

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