The South West Zonal chapter of Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday, threatened to direct its members to commence sales of the Premium Motor Spirit (P.M.S.) popularly referred to as petroleum at the rate of N200 per litre should the federal government fails to address the continuous nonavailability of the products to its members across the zone.
IPMAN Zonal Chairman for South West, Alhaji Dele Tajudeen, who spoke with journalists in Abeokuta, the Ogun State capital accused the regulatory agency in the sector of failing to carry out its duty of enforcing the depot loading prices of both the P.M.S and A.G.O, popularly called Diesel in the South West since January, 2022 when the products were not available for independent marketers at the six government owned depots in the zone.
Tajudeen explained that his members have for the past six months, not been able to access supplies of the products from any of the six government's owned depots located at Mosimi in Sagamu, Ogun State, as well as others in Ibadan, Lagos, Ore in Ondo State as well as the one in Ilorin, Kwara State capital, but have to get supplies from the private depot owners in Lagos.
Alhaji Lamidi Dele Tajudeen, IPMAN South West Zonal Chairman
These private depot owners, according to the IPMAN South West chairman, have continued to exploit the situation to put extra financial burden on his members.
He alleged that all the federal government's depots have refused to load any of the Independent Marketers in the zone, the development which he said compelled his members to start making purchases from the private depot owners since January, 2022.
The IPMAN Zonal Chairman further disclosed that these private depot owners have however, decided to take advantage of the nonavailability of the products at government's depots to jack up the loading price to between N157 and N158, "excluding the transportation 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 approved pump dispensing price".
"But sad enough, the regulatory agency appeared incapacitated to control and compel these private depot owners to sell at government's approved price for us".
"As at today, the purchasing price of diesel has increased by 400 %. 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 products are being transported to from the 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 filling stations; paying the staff salaries, as well as servicing the 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 lesser than N175 to N180 for customers in the Lagos to Ibadan axis, while those within the Ogbomoso and Ilorin axis may have to 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".
The Catalyst Cable
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