No One Would Sell a Litre of Fuel Below N180 – IPMAN

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

Speaking in an In an interview Mr Akin Akinrinade insisted they were not on strike but noted that the operating environment has become hostile to their businesses.

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

“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 litre of petrol, you pay in N162 per litre,” he added.

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

According to him, their members can no longer sell (petrol) at N165 per litre “in fact, there is no reasonable person in this business that can sell below N180 per litre, so it is not as if we are on strike.”

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