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Fuel Stations to Shut Down Operation

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CEM REPORT, ENERGY | Fuel scarcity in the nation may not see an end anytime soon as the Independent Marketers Association of Nigeria (IPMAN) has told its members to consider shutting down filling stations this week.

This is to avoid sanction as independent marketers cannot sell at the Federal Government rate of N165 per litre because their cost price is above N195 per litre and they need to sell higher than that.

The advisory followed a resolution reached last week by NNPC Limited, Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), security agencies and downstream regulatory agencies.

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The National President of IPMAN urged other independent marketers to yield to the advisory.

“The information is in order, because the depots that the NNPC gives products to are selling at a higher price, and IPMAN members will not like to leave their stations idle. And to avoid sanctions, it is better to close your station.

“So, what is going to happen in essence is that marketers have to buy products using the NNPCL loading tickets, and if they don’t have the tickets, all they have to do is to close down their stations. You have to buy from the NNPCL in order to sell at the government-regulated price.”

Punch Newspaper quoted the Public Relations Officer of IPMAN’s Ibadan Depot branch, Mojeed Adesope, to have said:

“The top management of NNPC, other relevant authorities in the downstream sector of the economy, as well as all the security agents in the country, met on Tuesday, January 31, 2023, to begin the enforcement of pump price of PMS at N195/litre at all the filling stations across the country with immediate effect.

“Towards that end, enforcement will commence effective from Monday, February 6, 2023, to enable you to dispose of all your remaining stock on or before the enforcement date.

“Members are hereby implored not to purchase products that they would not be able to dispense at N195/litre. The above information should be given wider spread/circulation in order not to get any member caught unawares. You are strongly advised to heed this information.”

If this goes into effect Nigerians will have fewer fuel stations to purchase products making the already long queues longer and breeding traffic.

Recall that the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, in an interview with NTA last week, mentioned transportation/distribution challenges as contributing factors to increased costs of fuel in the country.

He added that Nigeria’s fuel scarcity challenges are not due to supply constraints.

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1 comment

www.ciczrng.org February 7, 2023 - 1:36 pm

CEM REPORTS are of international standard journalism. I commend your efforts and foresight and focus of the functions of its creatioñ. Bravo to you Jaco Ipogah, CEO and members of your team.
SOA Ozomah

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