IPMAN Wants FG To Stay Action Before implementing New Pump Price Regime - SALIENT TIMES ONLINE

IPMAN Wants FG To Stay Action Before implementing New Pump Price Regime

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By Our Correspondent

Following another downward review in the price of the PMS, popularly called, Petrol, by the Nigeria National Petroleum Corporation, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed to the federal government to stay action before its implementation.


The IPMAN South West Zonal Chairman Alhaji Dele Tajudeen  in a press statement issued on Wednesday in Abeokuta, the Ogun state capital, said the plea became necessary in order to allow its members exhaust sales of the petroleum products which they had purchased at an expensive price before NNPC management announced the new price regime.

Tajudeen in the statement berated management of NNPC for announcing further reduction in the pump price of petroleum product without adequate consideration of the welfare of its members, most of whom he said run their businesses through bank loans.

The IPMAN Zonal Chairman further stated that the entire South West IPMAN executive committee has resolved and directed that members of his association should continue to dispense petroleum products to customers at the existing pump price of N125 before the announcement of the new price regime of N123. 5 announced by the NNPC. 

"It is very disheartening to hear that a new price regime is coming to effect without considering the plight of marketers who bought these products at an expensive price".

"We want to categorically state here that the last time when federal government cut off a whole N20 from the pump price, all of us incurred greater debts. And federal government needs to know that some of us obtained loans from banks to run this business and we have to pay interest on them".

"We are still struggling with debts incurred not up to a month ago before another price reduction".

"We however, want to plead with the federal government to please understand with us so that majority of the marketers may not be sent away from business".

Tajudeen also said that his association (IPMA) identifies with the federal government at this critical period of national disaster and pray that God quickly intervene to save our country.