IPMAN Explains Real Reason Behind Recent Fuel Scarcity, Hints At Price Hike

Fuel scarcity
Nigerians in panic buying of petrol during a scarcity period

With the recent return of long queues at filling stations which have left Nigerians groaning, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has explained why there is fuel scarcity in Lagos and other parts of the country.

In his explanation during an interview with Channels Television, the Lagos Zonal Chairman of IPMAN, Akin Akinrinade said the shut down of stations by its members is not because of a strike or have any plans of striking.

According to Akinrinade, the business environment has been very hostile such that they can no longer do business in the current condition.

He said that it is no longer feasible to sell fuel at the price of N165 a litre, adding that there is no reasonable person that can sell the product below N180 per litre.

He said: “Members of Independent Petroleum Marketers Association of Nigeria IPMAN have shut down their stations, not because we are striking; we are not on strike”

“Rather, the business environment has been very hostile to us such that we can no longer do business under this condition. For you to load a litre of petrol, you pay in N162 per litre”

“Our members can no longer sell (petrol) at N165 per litre; in fact, there is no reasonable person in this business that can sell below N180 per litre, so it is not as if we are on strike”

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