The Independent Petroleum Marketers Association of Nigeria (IPMAN), said that premium motor spirit (PMS), otherwise known petrol, may sell for between N180 to N200 per litre in the southwest zone.
The Southwest Zonal Chairman of the Association, Dele Tajudeen, who gave the hint in an interview with journalists in Abeokuta, Ogun State, said the association may be forced to increase the price of petrol and AGO, popularly called diesel, followingnon-supplyof the products to its members.
Tajudeen lamented that IPMAN members in the zone have not been able to access supplies of the products from any of the six governmentowned depots for the past six months.
He added that the scarcity had forced members to purchase from private depot owners who, according to him, have beenexploitingthesituationto put extra cost on his members.
Tajudeen explained that the Federal Government’s depots, located at Mosimi in Sagamu, Ogun State as well as others in Ibadan, Lagos, Ore in Ondo State and the one in Ilorin, Kwara State capital have all refused to supply any of the Independent Marketers, the development which he said compelled his members to start making purchases from Tajuthe private depot owners since January 2022.
The IPMAN zonal chairman further disclosed that these private depot-owners have, however, decided to take advantageof thenon-availability of the products at government’s depots to jack up the loading price to between N157 andN158, “excluding thetransportation cost to our various destinations.”
“So, by the time we add the cost of transportation to the purchasing amount, we will be arriving at a sum of N165, which is the government approvedpumpdispensingprice. But, sad enough, the regulatory agency appeared incapacitated tocontroland compel these private depot-owners to sell at government’s approved price for us.
“As at yesterday, the purchasing price of diesel has increased by 400 per cent. Again, I want members of the general public to know that cost of transporting the product ranges between N6 to N8 and N10, depending on where the productsarebeingtransported to fromt he Lagos private depot where we make purchases.
“I wish to equally intimate you that making purchases from these private depot-owners is not the ultimate end; we also have some overhead costs to bear like running an electricity generator to power our fillingstations; payingthestaff salaries as well as servicing bank loans, among other costs.
“So, by the time we have to add the cost of transportation with the purchasing amount, this situation clearly implied that we, as independent marketers, will be left with no other option than to dispense the products for nothing less than N175 to N180 for customers in the Lagos to Ibadan axis, while those within the Ogbomoso andIlorin axis mayhaveto buy at a dispensing pump price of N200 per litre.
“Now, we want to let members of the general public to be aware that the fault is not coming from our end, rather, it is the failure of the regulatory agency to direct the government’s depots to sell the products for us at their depots and at the government’s approved price.