Energy

Disregard alarm about increase in pump price of petrol – IPMAN

By Web News 358

By Uche Ndeke

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has advised members of the public to disregard the alarm and speculations about an increase in the pump price of Premium Motor Spirit otherwise known as fuel.

Chairman of IPMAN, Enugu Depot, Mr Chinedu Anyaso made the call in an interview with Radio Nigeria Correspondent Uche Ndeke.

He said the Nigeria National Petroleum Company Limited, NNPCL, being the sole importer of the product has not in any way informed marketers of price increase.

Mr Anyaso called on Nigerians to disregard the speculations in social media.

The IPMAN, Enugu Depot Chairman said contrary to media reports, the Port Harcourt refinery is yet to come on stream.

” There is no need for panic buying as there is enough product being made available to marketers at different depots by the NNPCL.

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Energy

Do not engage in panic buying – IPMAN

By Web News 329

The Independent Petroleum Marketers Association of Nigeria, IPMAN, urged Nigerians not to engage in panic buying, saying that petrol is sufficiently available in the country.

IPMAN National Public Relations Officer, Yakubu Suleiman said this on a Television programme on Wednesday.

Suleiman said the deregulation of the oil sector and subsidy removal is the only way to make Nigeria great.

“IPMAN’s position is that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is supporting or has supported the deregulation of the industry,”

“Removing subsidy is the only answer to make Nigeria great because there is no country that can survive without deregulating the economy.”

Suleiman commended President Bola Tinubu for removing subsidy removal in his inaugural speech.

“We really applaud Mr President for having the courage to announce the removal of subsidy,” he stated.

Suleiman said Tinubu was only informing Nigerians that there is no more subsidy, noting that the administration of former President Muhammadu Buhari has announced subsidy removal by not making provision for it beyond June 2023 in the budget for this year.

He maintained that though discussions with stakeholders are important, the way to go is subsidy removal.

The IPMAN spokesman urged Nigerians not to engage in panic buying as Premium Motor Spirit also known as petrol is sufficiently available in the country at the moment.

Culled / Titilayo Kupoliyi

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Energy

Ekiti IPMAN Goes Tough on Filling Stations

By Web News 495

By Kazeem Ayodeji

Independent Petroleum Marketers Association of Nigeria, IPMAN, in Ekiti state have assured the state government that all filling stations in the state will open and start selling fuel at reasonable prices to the people.

They gave the assurance in Ado Ekiti a during meeting with Governor Biodun Oyebanji, following sudden hoarding and hike in the price of fuel by filling stations.

The spokesperson for IPMAN in Ekiti state, Mr Adeyinka Shodowo said executive members of the association and that of other related bodies would embark on a tour of filling stations to ensure that anyone that has more than 3000 litres in their storage tanks was dispensing fuel to the people.

Acknowledging that removal of subsidy is in the best interest of the country, Mr Shodowo explained that they would not allow any station to sell above 250 per litre so as not to inflict unnecessary hardship on the people.

Responding, governor Biodun Oyebanji frowned at the marketers for trying to sell their old product at new price rate for people when the government had not increased the official pump price of the product, Saying what they bought is what they should sell to the people.

He expressed displeasure that the artificial fuel scarcity they created had negatively impacted on the people of the state.

Mr Oyebanji consequently ordered the state petroleum task force to shut down any filling station that refused to dispense, adding that defaulting filling stations will remain shut till the end of this year.

The meeting had in attendance, the state’s executive members of the Independent Petroleum Marketers Association of Nigeria, IPMAN,  Nigeria Union of Petroleum and Natural Gas Workers NUPENG, Ekiti State Special Petroleum Intervention Taskforce among others.

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Energy

Long Queues Surface at Fuel Stations in Ibadan, Other Cities

By Web News 539

By Tawakalit Ibrahim/Adenitan Akinola/ Olajumoke Idowu

Some filling stations within Ibadan metropolis have started experiencing long queues of humans and vehicles. 

Radio Nigeria Premier FM reporter, who monitored the situation, observed that some of the filling stations around Apete, Sango, Mokola, Idi-Ishin Jericho, Akobo, Apata and Molete now witnessed the heavy presence of both commercial and private motorists. 

While wondering what could be the cause of the sudden queues, some of the motorists who did not want their names mentioned suggested that the development could be a result of the remarks from the Inaugural Speech of President Bola Tinubu on the removal of fuel Subsidy.

The motorists lamented that they woke to the increase in pump price from the official rate if 180 Naira per litre to between 240 to 270 Naira per litre this morning.

Our Correspondent gathered that while some stations sold the product, others shut their gate against customers, and this made many people abandon their vehicles at the stations.

Petrol attendants in some of the stations who spoke with Radio Nigeria could not give any reason for the development, noting that they only work with directives.

Efforts to speak with the Nigeria Midstream and Downstream Petroleum Regulatory Authority and the Independent Petroleum Marketers Association of Nigeria IPMAN on the issue were to no avail.

Osun State

The case is not different as queues have resurfaced at many fuel stations across Osogbo, the Osun State Capital.

Radio Nigeria Correspondent who went around some locations in the town said there were long queues in a few petrol stations dispensing fuel.

At the stations dispensing fuel along OgoOluwa, Dada Estate, Ring Road and Ikirun Road, pump prices have suddenly increased between 250 naira and 300 hundred naira. 

Some of the motorists who spoke to Radio Nigeria including Mr Duro Later and Hakeem Abolude attributed the development to panic buying.

Some motorists accused some marketers of deliberately hoarding petrol to sell it at exorbitant prices.

They called on the State government to protect the people from shylock businessmen.

Ogun State

Similarly, long queue of vehicles disrupted the free flow of traffic today on major roads in Abeokuta, the Ogun state capital as work resumes after the public holiday declared by the federal government in commemoration of the inauguration of a new administration in the country.

Some residents who spoke with Radio Nigeria attributed the long queues to panic buying of premium motor spirit, also known as petrol, sequel to the announcement by President Bola Tinubu to remove fuel subsidy.

Apart from the filling stations with long queues, many petrol station operators did not sell the product to customers, while some marketers increased their prices from 185 naira per litre to sell for between 250 and 300 naira per litre.

A commercial driver, Mr Akeem Olawale who lamented about the hoarding of fuel by operators, said the situation would lead to hike in transport fares and appealed to President Tinubu to avoid another round of economic torture on the people. 

Also, a business owner, Mrs Tolani Akinsanya said the removal of fuel subsidy would have a great impact on food items, stressing that there was need for the new government to tread with caution to ameliorate the suffering of Nigerians.

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Energy

IPMAN Kicks Against Tinubu’s Planned Fuel Subsidy Removal

By Web News 1385

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has opposed the plan by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June end.

Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.

He said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.

“The fuel subsidy is gone!” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria.

The President said “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions.

“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.”

Tinubu said since there was no provision for subsidy in the budget from June 2023, it stands removed.

However, reacting on Monday, IPMAN said it was opposed to the new president’s subsidy removal plan

The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said the new government should dialogue with marketers before taking the decision to remove subsidy.

“We are not in support of the removal of fuel subsidy at this time. We have said it repeatedly that our refineries should be fixed before taking such a decision that will cause galloping inflation and inflict more hardship on the masses.

“The government of President Tinubu should not adopt what is in the transition document handed over to it by the administration of former President Muhammadu Buhari. Someone (Buhari) who for eight years did not remove subsidy is advising a new government to remove it.

“That is not fair and should not be adopted. Rather the new government should sit and discuss with marketers and other stakeholders on how to manage the fuel subsidy regime. We now have the Dangote Refinery, but all our refineries are still not working, so we don’t think removing subsidy is the right thing to do now,” Ukadike stated.

He said IPMAN was ready to work with the new government and would proffer measures to address the fuel subsidy regime, instead of effecting an outright halt in subsidy.

Punch/ Oluwayemisi Owonikoko

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News

Suspend Operations, IPMAN Tells Members

By Web News 444

The Independent Petroleum Marketers Association of Nigeria has directed members to suspend all operations across the country,

In a statement signed on Tuesday by Chairman of the Association, Mohammed Kuluwu, the marketers were also ordered to suspend the payment of ordering products from the source until further notice.

The association said the decision followed, “the critical situation as it affects our sourcing and selling of product at lost and the action of the authority to impose the selling of product at a lost price on our side.”

It had earlier been reported that the association had appealed to the Federal Government for more time to sell Premium Motor Spirits at the official price of N195 per litre.

Details later…

Punch / Titilayo Kupoliyi

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Energy

Frustrations, Lamentations as Fuel Scarcity Bites Harder

By Web News 425

Residents of Ibadan have expressed disappointment and frustration over the persistent fuel scarcity in the metropolis.

A visit by Radio Nigeria correspondent to some filling stations in the metropolis revealed that most of them were not dispensing the product while those that have the product sell it between two hundred and fifty naira and three hundred naira per litre. 

The fuel scarcity, which started last year in November, has seen many motorists queue at the filling station as early as 6 o clock in the morning, making them lose many work hours.

 Two motorists, Agbele Olalekan and Deji Oyetunde, who were visibly stressed due to the long waits at a popular private station, condemned most of the filling stations for creating artificial scarcity to exploit people.

In the meantime, the persistent fuel scarcity has continued to cause disruption of the free flow of traffic around where the product was available and being dispensed as motorists queue indiscriminately on the road.

One of the major marketers, who spoke on the condition of anonymity, described the persistently long queue at his filling station as unbearable.

However, the Chairman, Independent Petroleum Marketers Association of Nigeria, IPMAN, covering Oyo and Osun states, Bukola Mutiu said Federal Government has approved one hundred and eighty-five naira per litre for premium motor spirit, also known as petrol which was formerly pegged at one hundred and sixty-five naira per litre, saying eighty per cent of filling stations in Oyo State are independent.

Alhaji Mutiu, however, reiterated that the inability of the Federal Government to supply the product to depots had compelled their members to buy from the private depots in Lagos and Warri, Delta states, far above government-approved prices.

Olukemi Akintunde

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Economy

Ibadan Residents Bemoan Hike in PMS Pump Price

By Web News 796

Residents of Ibadan have frowned at the irregular price of premium motor spirit, PMS, known as petrol by most filling stations in the metropolis. 

Our correspondent who visited some filling stations in the Ibadan metropolis reports that the majority of filling stations lock their gates to customers while few filling stations belonging to independent marketers are selling the product between 230 and 250 naira per litre and some major marketers selling at one hundred and eighty naira witnessed a long queue without the hope of getting the product.

Residents who spoke with Radio Nigeria expressed their feelings of anger, saying it was an artificial scarcity created by marketers. 

The motorists noted that the current economic situation confronting the citizens was hard to bear coupled with fuel scarcity.

They maintained that the situation called for urgent attention of the federal government before it escalates.

In a reaction, one of the major marketers, Mr John Steven, explained that the situation was terrible for him to manage, calling for a lasting solution to end the incessant fuel scarcity.

Efforts to speak with the chairman of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Oyo/Osun Branch, Alhaji Bukola Mutiu were unsuccessful as his number was not going. 

Kemi Akintunde

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Energy

IPMAN Cautions Members Against Fuel Price Increase

By Web News 451

The Independent Petroleum Marketers Association of Nigeria on Wednesday warned members of the association not to dispense Premium Motor Spirit, popularly called petrol, above the approved N165/litre pump price.

IPMAN in conjunction with the Association of Distributors and Transporters of Petroleum Products gave the warning in Abuja following reports that many retail outlets had adjusted the price in their various pumps upwards above the government-regulated rate.

The factional National President, IPMAN, Chinedu Okoronkwo, admitted that members of the association had called for a hike in petrol price, but noted that the Nigerian National Petroleum Company Limited had released enough petrol.

He said, “Our members in Lagos were getting the fuel at N170 – N173/litre, that’s why they wanted price increased. It is only the NNPC that is importing the product. The cost of doing business has changed, so it becomes difficult to sell at N165/litre

“That is why we are thanking the NNPC for bringing the product to N143/litre. So, our members must sell the product at N165 which is the government-approved price.”

Okoronkwo further revealed that IPMAN and its partner had engaged the services of Benham Group to recover money owed them for the supply of petroleum products.

“Our business requires technology, that is why we brought a seasoned financial expert and we’ve been able to recover a lot of funds in other countries and Nigeria,” he said.

The IPMAN official added, “The incessant mishaps and destruction of trucks on the road, banditry and kidnapping is the reason we are bringing the insurance company to help us. Leaving the risk for the owner of the truck to bear will affect our businesses.”

On his part, the National President, Association of Distributors and Transporters of Petroleum Products in Nigeria, Mohammed Danzaki, said the NNPC had done a lot to import the product, “but the main issue is the transportation.”

He added, “We have not been getting our payments. That is why we engaged a financial expert, Benham Group, to recoup our money for Nigerians to get regular supplies in the fuel stations.”

The Chairman, Benham Group, Maurice Ibe, said the collaboration was to ensure the stabilisation of fuel supply at the filling stations.

Punch / Titilayo Kupoliyi

Transportation

IPMAN Alerts Nigerians of Possible Fuel Scarcity

By Web News 498

The Independent Petroleum Marketers Association of Nigeria has appealed to the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to pay its members their outstanding bridging claims.

The IPMAN Chairman in Kano State, Bashir Danmalam who pointed out that the outstanding claims is over N500 billion added that failure to pay could lead to the worst fuel crisis.

Danmalam made the remarks while addressing a news conference in Kano State on Monday.

He said the failure of the NMDPRA to pay the bridging claims, otherwise known as transportation claims, had forced many of its members out of business as they couldn’t transport the commodity due to high cost of diesel.

He lamented that non-payment of the claims by NMDPRA for over eight months had crippled the businesses of many of their members as they couldn’t transport the commodity even though it was available.

“NMDPRA is responsible for the payment of bridging claims otherwise known as transportation claims

“For failure of the NMDPRA to pay the outstanding claims for about nine months, many marketers cannot transport the product because their funds are not being paid. Despite the high price of diesel, they manage to supply petroleum products nationwide.

“The resurfacing of fuel queues in Abuja is just a tip of the iceberg with regard to the petroleum scarcity.

“Out of 100 percent, only five percent of the marketers can supply the petroleum products because of the failure of NMDPRA to pay them.”

He noted that after the amalgamation of DPR, PEF, and PPRA to NMDPRA, the agency had paid them only two times.

Danmalam, therefore, called on the Federal Government to intervene before the situation degenerated into a serious fuel crisis and spread to other parts of the country.

“As leaders, we have to come out to say the truth because our members are suffering from the failure of the agency to pay the fund. This Petroleum Equalisation Fund is our own money we contribute to each litre. This agency is doing more harm than good to us,” Danmalam said.

He said Nigerians should not blame their members for the fuel scarcity but rather ascribe it to NMDPRA.

“We are not agitating for a transportation fee increase, we are only clamouring for payment of our bridging claims that is over N500 billion,” he added.

Punch/ Titilayo Kupoliyi

Economy

Ibadan Residents Lament As Petrol Queues Resurface

By Web News 716

Most filling stations in Ibadan Oyo State metropolis have locked their gates to customers. 

Radio Nigeria Correspondent, Olukemi Akintunde, who monitored the situation in some areas in Ibadan, observed that some filling stations selling the product had long queues.

A manager in one of the filling stations, Mr Ayodele Asade said they were selling at official pump price, but was surprised to see long queues in his station.

Some motorists and commercial drivers, who spoke with Radio Nigeria lamented that marketers were using the avenue to exploit them.

They called on the Federal Government to proffer lasting solutions to forestall fuel scarcity.

Reacting, chairman, Independent Marketers Association of Nigeria, IPMAN, Oyo state chapter, Alhaji Bukola Mutiu attributed the long queues in some filling stations in the state to lack of supply of premium motor spirit PMS, by the Nigerian national petroleum corporation, NNPC, Ibadan depot.

Alhaji Mutiu explained that for the past two months, IPMAN had been buying the PMS, from the private depot in Lagos at an exorbitant price and low quality.

The IPMAN chairman enjoined his members to follow due process while buying the product to ensure it is unadulterated.

Kemi Akintunde

Economy

Fuel Scarcity Cripples Activities In Saki

By Web News 1445

Volumes of fuel reduced to prevent illegal exportation – IPMAN

Residents of Saki in Oke-Ogun Area of Oyo State have started experiencing fuel scarcity. 

Motorists, both private and commercial as well as motorcycle riders were Wednesday morning disappointed when majority of the filling stations in the town were met closed.

Our Correspondent reports that the few filling stations at Barracks Road, Ajegunle and the one along Ago-Are Road out of scores of stations visited in the town were selling fuel while there were a lot of motorists on queue.

One of the commercial motorcycle riders, Mr. Segun Ibiyemi lamented the effects of the fuel scarcity claiming it has affected his business making it difficult to feed his family. 

Other residents appealed to the government to address the situation to reduce the hardship the fuel scarcity has caused.

Commenting, the Coordinator, Independent Petrol Marketers Association of Nigeria, IPMAN, Saki Branch, Alhaji Nescotech Salami said the number of petrol tankers to the town was deliberately reduced by the Nigerian National Petroleum Corporation, NNPC, that claimed that the volume was more than what was needed. 

He said the decision according to NNPC was to prevent transporting the fuel to neighbouring countries.

Suleman Basheer

News Yoruba

Awon Alagbata Epo Roobi Nile Yi Fokan Aralu Bale Lori Owon Gogo Epo

By Web News 1067

Ni bayi naa, awon alagbata epo nile Naijiria IPMAN, ni won ti gba awon  eeyan nile yi niyanju, lati yago fun rira epo pentrol pamo.

Agbenuso egbe IPMAN, Alhaji Suleiman Yakubu, lo soro amoran yi ninu iforowanilenuwo pelu akoroyin nilu Abuja.

Alhaji Yakubu bu enu ate lu bi awon eeyan se n sale lo ra epo pentrol nitoria ifoya, to sin mu ki awon ile epo kun fofo ju botiye lo.

O fowo idaniloju soya pe, gbogbo nkan ko nip e pada bo sipo, nitoripe won ti bere si nig be epo jade lawon ibuso ti won ti n gbe epo pentrol jade.

Akintunde/Afonja

nnpc depot ibd/nairaland.com
Energy

IPMAN Grounds Activities at NNPC Depot Ibadan

By Web News 1970

Business activities have been grounded at NNPC Depot, Apata Ibadan. 

This follows a disagreement between the Management and Independent Petroleum Marketers Association of Nigeria, IPMAN over the newly introduced mode of payment for the marketers. 

Radio Nigeria gathered that all trucks belonging to major marketers that were to lift fuel from the depot this morning were prevented by IPMAN members. 

According to chief of staff to IPMAN Chairman in Oyo State, Chief Adebayo Adeyemo, the new mode of payment method was cumbersome and exploitative and capable sending many of them out of the business.

The members insisted that until the new mode of payment was reversed, business activities would continue to be at a standstill.

He however called on the government to prevail on the NNPC management to revert to the old method to prevent scarcity of petroleum products in the southwest of the country. 

As at the time of filing in this reports, all efforts to speak with the NNPC management proved abortive. 

Olukemi Akintunde

Security

Ibarapa Killings: Oyo IPMAN Threatens Shut Down Of Filling Stations

By Web News 794

Petroleum dealers and marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria, IPMAN, has shut down all filling stations in Ibarapa region of Oyo State following the killing of the owner of Subawah Petroleum, Mrs Sherifat Adisa by unknown gunmen.

The Ibadan Depot of the association has also threatened to shut down all filling stations in the state if the situation did not improve.

The Chairman, Ibadan Depot, Alhaji Bukola Mutiu, in a statement issued said the closure of all filling stations in Ibarapa area of the state is a warning to the Oyo State government to urgently arrest the growing trend of killings and kidnap of petroleum dealers in the state.

Describing the killing of Mrs Adisa as one too many, IPMAN warned that except the trend is arrested, all filling stations in the state would be shut down.

Rasheedat Makinde