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IPMAN begs FG for more time to sell petrol stock before enforcing N195/litre price

petrol stock
petrol stock


The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked for more time from the federal government to sell its current petrol stock before conforming to the official price of N195 per litre.

Joseph Akanni, vice-chairperson, IPMAN western zone, made the appeal on Monday in Ibadan, according to NAN.

IPMAN had said regulatory agencies agreed to start enforcing the pump price of petrol at N195 per litre at all filling stations across the country. 

Affirming the decision, Akanni said the only thing the association’s members wanted was time to sell the high-priced items they had purchased.


He added that all IPMAN chairpersons were on their way to hold a meeting in Abuja. 

“We have already instructed our members not to buy high-priced petroleum products. We will only be buying products from NNPC,” he said. 

“We have also advised our members not to buy any products that they can’t sell at N195 litre, according to the federal government guideline.


“Most of our members paid to the private depot owners almost three to four weeks ago and they were yet to supply them but started to supply them now.”

Akanni also debunked the claim that the independent marketers intend to embark on a strike. 

“We have pleaded with the authority to give us time to sell off the products. This is against the backdrop that our members want to go on a rampage. That is not true,” he said. 

IPMAN’s request comes amid the lingering petrol scarcity and price hike in the country. 

Mele Kyari, group chief executive officer (GCEO), Nigerian National Petroleum Company (NNPC) Limited, had said greed in the entire petroleum value chain is a major reason for the country’s prolonged scarcity of the product.



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