IPMAN chief: We sell petrol at N130 per litre because it costs N110 to N115 in private depots

A former Secretary-General, Independent Petroleum Marketers Association of Nigeria (IPMAN), Ibadan Branch, Chief Folorunso Alake, on Monday, said that private depots in Apapa sold petrol between N110 and N115 per litre.
Alake said in Lagos that this consequently compelled IPMAN members to sell the product between N130 and N150 per litre.
He said that only major oil marketers get petrol at official price from the Nigerian National Petroleum Corporation (NNPC), while IPMAN members get the product from private depots.
“The government should encourage importation of more petrol into the country to tackle the current scarcity. NNPC is trying but the petrol imported is not enough and that is why we are moving from one depot to another looking for the product.
“Most private depots in Apapa, Lagos sell petrol between N110 and N115 per litre and presently, they are not even selling the product.
“We have been going round the private depots even to get petrol because there is nothing to sell,’’ he said.
Alake urged the Federal Government to make provision for IPMAN members to get the product at ex-depot price of N77 so that they could sell at N86.50.
He said that no IPMAN member could operate at government-approved price because they were not loading the product at the official price.
The former secretary urged NNPC to repair all its depots nationwide so that IPMAN members could load from there.
“IPMAN members have more filling stations than major marketers in the country and we are more nearer to motorists in the rural area.
“If the product is surplus, private depots will be forced to sell at the official price. So, NNPC should flood the market with petrol.
“It is only by doing this that we can suppress the present scarcity of fuel,’’ he said.
However, efforts to get the Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA), Mr Olufemi Adewole, to either confirm or deny the allegation that they were loading above the official price at the depots, was abortive.
Several calls made to his telephone line were not answered.