Don't Engage In Panic Buying Of Petroleum - IPMAN Warns

By Niyi Ogungbola

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured that its members will continue to make petroleum products, particularly PMS available to the general public, saying that the current price adjustment is based on the challenges its members are facing in getting the product from government depots. 

IPMAN therefore urged the public not to engage on panic buying or illegal storage of petrol as its members will not put unnecessary burden on the general public, adding that the reality on ground made its members to be selling the products at the current price of N190 to N200 per liter.

Speaking on behalf of IPMAN, the National Ex-Officio (Southwest) and former Mosinmi Depot Chairman, Alhaji Surajudeen Adebisi Bada assured that IPMAN members would continue to be perseverance  and resilient in  buying at any available private depot and sell to the public appropriately.

Speaking on the recent statement allegedly credited to one Chief Chinedu Okoronkwo which  directed IPMAN to be selling at N165 government regulated price per liter, Alhaji Bada said Okoronkwo is on his own and not in tandem with current realities. 

"He is a factional President who  has no right to issue any statement on behalf of IPMAN, his statement is misleading and capable of causing artificial scarcity and portray IPMAN members as enemies of the people.

"Today the products are not available in the government depots.

"I can tell you categorically that Mosinmi Depot operated last on 16th of March 2022, so where should we get fuel to be sold at government regulated price. All of us as of today purchase from private depots at the cost between N167-N168 excluding transport and other loading charges which vary depending on the depot and your destination. Some times the landing cost is between N175-N180 how then, could any Marketer buy at 175 or 180 and sell at N165?" Alhaji Bada queried.

Alhaji Bada further expressed shock that, Chief Okoronkwo may have no functional petrol Station else, his misleading statement which is not only capable of causing scarcity if members withdraw their services, but equally capable of causing public mistrust on members of IPMAN.

"The factional President of IPMAN calling members to sell at the rate of N165 government regulated price is totally on his own, it shows that he has no functioning fuel station, If he does no where in the country today where you can get product from except private depots at N165.

"Out of 21 government depot's across the country with 5 of them in Southwest, none is dispensing products to IPMAN.

"It is no longer hidden, it is now public knowledge that Independent Marketers are not getting fuel from government depots, so why are you trying to create artificial scarcity?" Bada queried.

"This man has used his own tenure and he is no longer the President of IPMAN. Our authentic President now is Alhaji Debo Ahmmed who is eminently qualified to issue statement, also capable to give instructions and can as well speak on our behalf. 

"We hereby call on members of the public not to engage in panic buying as IPMAN would continue to source for fuel at any available private depots and as well sell to them appropriately between N190 and N200."Alhaji Bada stressed.