Why we sell fuel above N97 in Oyo state —IPMAN

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Premium Motor Spirit, otherwise called petroleum, has continued to sell above the official pump price of N97 at many of the independent filling stations in Oyo State in the past few months, because generating sets at the pumping station in Mosinmi had been faulty. Chairman, Independent Petroleum Markerters’ Association of Nigeria (IPMAN), Ibadan depot , Chief Oyewole Akanni, made this disclosure on Tuesday, in Ibadan, the Oyo State capital, while also disclosing that the negative effect of vandalism on the pipelines, as well as high landing cost of the product being sourced from private depots in Lagos, were part of the challenges. In a  release  made available to journalists  in Ibadan, IPMAN adduced reasons its members were selling above the official price in the past three months, promising to reverse to the old rate immediately the identified problem areas were rectified. The release stated that: “The chairman of IPMAN, Ibadan depot, wishes to clear the air on the reasons our members are selling petrol (PMS) above the government approved rate.” Its chairman, Akanni said “for almost three months now, there was no lifting of any product from the Ibadan depot due to activities of vandals on the pipeline; the generators at the pumping station are faulty and need repairs; and the landing cost of product (PMS) sourced from private depots in Lagos is above N100 per litre.

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Outlets outside Ibadan incur additional cost of transportation.” The association, therefore, appealed to the Federal Government through the Nigerian National Petroleum Company ( NNPC) “to intensify efforts on the surveillance of the pipelines, replace the faulty generators, as well as prevail on the private depot owners to reduce product’s cost and make it friendly to the end-users.” Should these be done,  Akanni assured the general public that  “the moment the liftings commence at the depot here in Ibadan, we shall revert to the government official rate.”

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