We can no longer sell at N165/litre due to fuel constraint — IPMAN

Fuel scarcity in Lagos and other regions of Nigeria has been explained by the Independent Petroleum Marketers Association of Nigeria (IPMAN).

 

IPMAN’s Lagos Zonal Chairman, Akin Akinrinade, said they were not on strike in an interview with Channels Television.

 

The working environment, according to Akinrinade, has turned unfriendly to their firms.

He also denied that the marketers had gone on strike, as had been reported.

 

of the Independent Petroleum Marketers Association of Nigeria, IPMAN, have closed their stations, not because we are on strike; we are not on strike,” Akinrinade explained.

Rather, the business environment has been unfriendly to us to the point where we can no longer conduct business. You pay in order to load a litre of gasoline.

According to Akinrinade, selling the product at the approved price of N165 per litre was no longer practicable, as the landing cost of petrol was between N175 and N178 per litre.

 

“Our members can no longer sell (petrol) for N165 per litre; in fact, no sensible person in this company can sell for less than N180 per litre, thus we are not on strike,” he concluded.