Petrol marketers suspend lockdown over N195 pump price


CITIZENS COMPASS– INDEPENDENT marketers of Premium Motor Spirit (PMS), popularly known as petrol, have have suspended shutting down their outlets which was earlier scheduled for Monday over the compulsory N195/litre pump price by the federal government.

The marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN), on Tuesday, said this followed to an amicable resolution of the issues of contention which has been
have been resolved and its members have been told to resume operations.

IPMAN had earlier on Monday sent out a notice to its members, directing them to suspend sale of petrol and to shut all their filling stations.

In a statement dated February 6, 2023, and signed by Mohammed Kuluwu, chairman of IPMAN, in Maiduguri, Borno State, the marketers were also ordered to suspend payment of ordering products from source until further notice.

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

Meanwhile, stakeholders in the petroleum sector have fingered lack of adequate investment in the downstream sector as the cause of the perennial fuel scarcity and its attendant long queues in filling stations across the country.

One of them was the Chief Executive Officer, CEO of Pinnacle Oil and Gas Limited, Peter Mbah who recently spoke with State House correspondents shortly after the company paid a thank-you visit to President Muhammadu Buhari at the Presidential Villa, Abuja.

The Nigerian National Petroleum Company (NNPC) Limited is of the opinion that an average of 64.42 million liters of premium motor spirit (PMS) were distributed on daily basis between January 28 and February 3, bringing the total evacuation to 450.92 million litres for the week.

This is as queues for the product is scarce across the country.

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