Friday, March 29, 2024

Fuel Scarcity: Transporters and Distributors meet, Say Petrol Remain N165 Per Litre

Transporters and Petroleum products distributors say there will be no increase in the pump price of petrol, even as petrol scarcity persists in many cities in Nigeria. They stated these positions on Wednesday at a press conference in Abuja.

The two groups however want downstream regulatory authorities to pay their member’s unpaid subsidy claims which they say are running them out of business.

The National President of Independent Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo said Nigerians should not panic as there is enough Premium Motor Spirit (PMS) with the NNPC, to meet demand. He added that there is not going to be an increase in the price of petrol, as it remains N165 per litre.

The president of the Association of Distributors and Transporters of Petroleum Products (ADITOP), Lawan Danzaki lauded President Muhammadu Buhari for subsidizing the PMS in the interest of ordinary Nigerians.

Danzaki said the independent marketers and transporters suffer a lot as it takes them six to eight months before they get back their money invested in bridging the transportation cost for petrol, forcing some of the oil marketers to go out of business.

The Executive Director of Benham group Dr. Ibe Maurice, a consultant to ADITOP and IPMAN called on downstream regulatory authorities to reconcile the challenges of pricing, distance in transportation and other variables, to come to a common ground and discuss with the federal government to bring an end to the fuel challenges in the country.

He added that members deal with a variety of factors which impact their pricing, depending on the zones being operated from, which is distant from the storage facilities to the filling stations.

 

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The transporters and distributors thanked President Muhammadu Buhari for his support and also appreciated the support from the NNPC, PPMC and other government agencies to stabilize and smoothen the supply of products across the country.

 

 

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