Fuel crisis imminent, as private depot owners allegedly raise prices

IPMAN appeals for FG’s intervention

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has called for the Federal Government’s intervention to maintain a steady supply of petroleum product, as it alleged price hike by some private depot owners across the country.

The IPMAN Chairman in the State, Bashir Danmallam, made the accusations in a statement in Kano yesterday, stating that some of the private depot owners have since Friday last week increased the price, from N148 per litre to between N153 and N155 per litre.

He said the association found it necessary to alert the government so as not to blame its members in the event that they increase the price of the commodity as they would not sell the product at a loss.

He said the association found it necessary to alert the government so as not to blame its members in the event that they increase the price of the commodity, as according to him, they would not sell the product at a loss.

“As I am talking to you, private depot owners in Warri, Calabar Lagos and Oghara in Delta State have increased their prices. We hope the management of the NNPC will investigate and intervene.”

He noted that the development if not properly managed may lead to the increased price of fuel across the country.

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