The Independent Petroleum Marketers Association of Nigeria (IPMAN) has refuted claims that it intended to raise the national pump price of gasoline to N700 per litre.
The planned increase in the price of gasoline, which is allegedly being worked on by IPMAN, was met with opposition by a coalition of civil society organizations (CSOs).
Dele Tajudeen, the South-West Zone Chairman of IPMAN, gave a speech this past weekend in Ibadan.
According to Tajudeen, the product’s cost would not be higher than what it is currently being sold for.
“Even in the PIA bill, it has been explicitly stated that the subsidy must be removed,” he said.
Therefore, I would like to express my gratitude to the president for eliminating the subsidy and our unwavering support. The subsidy was a fraud, which is why.
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The South-west chair of the association urged Nigerians to relax because the common person would not be unable to purchase the good.
Tajudeen stated, “I want to dispel the notion in the minds of the people that they should not panic about it; there is no cause for alarm, we are in control, and there is nothing like that.
Therefore, the public can rest assured that they cannot purchase gasoline for a price higher than that at which it is currently being sold.
They have more advantages than independent and major marketers when it comes to pricing, according to NNPC Retail Limited, a division of NNPC Limited.
Therefore, they announced the retail price and never provided the independent marketers with a specific price.
“However, from what I’ve read in the newspaper, it’s just speculative; it’s not true. I want to reassure everyone that nothing like that exists.
“There is no way the price can increase to N700 at this time. Even if the foreign exchange rate (FX) is N700 or N800, that won’t do anything to raise the cost of gasoline from N500 to N700.
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Tajudeen noted that the product had been deregulated and attributed the slight price increases and location-based differences at the pump to the cost of transportation.
The IPMAN chair said, “If you are moving products within Lagos, the cost may not be more than N300,000, but if you are moving up to Ibadan or there abouts, the cost may be as much as N500,000.
Additionally, the cost to travel to Ilorin could be as high as N700,000, which would explain the price difference.
“I want to state emphatically that as of right now, no one should sell gasoline for more than N515 to N520 per liter in the Lagos metropolitan area.
“NNPC Limited is not the only source for our product; despite the fact that they have provided us with a price, we actually purchase from the market; we obtain it from private depots.
Therefore, whatever we purchase is what we mark up and sell.
“However, as of right now, the highest price you can get anywhere ought to be around N550; Lagos is N510 per liter, and Ogun state is between N500 and N520.
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Tajudeen therefore urged Nigerians to ignore the rumors and refrain from making irrational purchases.
A group of CSOs has pledged to oppose any increases in the price of petroleum that IPMAN is allegedly planning.
The CSOs expressed their views in a statement that was jointly signed in Abuja by the Convener, Dr. Basil Musa, and Co-Convener, Malam Haruna Maigida, on behalf of others.
Officials from the Oil and Gas Transparency and Advocacy Group, Civil Society Coalition for Economic Development (CED), Centre for Citizens Rights, Centre for Good Governance Advocacy, and Action against Corruption in Nigeria were among those who also signed the statement.
According to the CSOs, they received information that IPMAN planned to raise the price of gasoline to N700 per litre. They vowed to protest this action by picketing IPMAN member filling stations across the nation.
Through their unilateral adjustment of the price of petroleum, they charged the IPMAN with causing suffering to common Nigerians.
They criticized the planned increase as unacceptable and urged the federal government to prevent IPMAN from allegedly making profits at the expense of regular Nigerians.
