The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on Department of Petroleum Resources (DPR) to sanction depot owners selling petrol above ex-depot price of N133.28K per litre.

Debo Ahmed, Chairman, IPMAN South West chapter, told the News Agency of Nigeria (NAN) that the sanction became necessary to avert a situation where filling stations would resort to selling petrol above N145 pump price.

According to him, some private depot owners are selling petrol to markters between N 137.50k and N 139 per litre against official ex-depot price of N 133.28

“Government should urgently arrest the situation before it goes out of hand, because they are aware of the hike in price by depot owners.

“It is not possible for marketers to buy petrol above ex-depot price and still sell it at official pump price of N 145, it will definitely affect our margin.

“I urge DPR to stand up to its responsibility to sanction any depot owner who increases the price of petrol.

“Government gave the depot owners product and they should explain why they are selling above ex-depot price; ours is to buy and sell at official price but if it’s sold to us above official price, we will also sell above the pump price,’’ he said.

The IPMAN helmsman said that all depots within the south-west zone were loading except Ejigbo satellite depot due to some internal challenges.

He said that delay in product importation after the election also caused ongoing effective distribution of products.

“We don’t want to sell above the official pump price and that is why we are urging government to do something about it and make the product abundantly available.

“They should monitor private depot owners to make sure they don’t sell above the official ex-depot price of N133.28,’’ Ahmed said.

Also, IPMAN Chairman, Ejigbo Satelite depot, Ayo Alanamu, told NAN that the depot had not loaded products for about 15 days due to distribution challenges.

Alanamu confirmed that some IPMAN members who loaded at private depots in Apapa paid between N 137.50k and N 139 per litre as against ex-depot price of N 133.28k.

Similarly, daily loading schedule for Lagos depots made available to NAN shows that out of about 50 depots within Lagos

NAN check showed that the only three depots which loaded product on Monday out of the 50 depots in Lagos sold to marketers above ex-depot price of N133,28k per litre. Folawiyo depot sold at N140 per litre while MRS at N139 and Aiteo at N139.50 kobo.

Contacted, Executive Secretary, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA), Olufemi Adewole, told NAN in a text message: “I’m not aware that any DAPPMAN depot is selling above the specified bandwidth for ex-depot price.

“Any depot discovered to be flouting the rule should be penalised as appropriate,’’ Adewole said.

NAN recalls that on April 4, NNPC advised motorists and other petroleum products consumers not to engage in panic buying, saying there was enough petroleum products stocked in 55 depots across the country.

NNPC Group Spokesman, Ndu Ughamadu, had said that 23 depots in Lagos, seven in Port Harcourt, 11 in Warri, six in Calabar and eight in Kaduna were fully stocked with white products.

Ndu assured Nigerians of an eventful Easter period and cautioned depot owners or terminal operators not to sell petrol above the official ex-depot price of N133.28k per litre.

The corporation also advised petroleum products marketers not to sell the product above N145 per litre, adding that the subsisting ex-depot petrol price of N133.28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) template and should be adhered to.
He advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources (DPR), the Industry regulator or to any law enforcement agency around them, on any station which sells petrol beyond N145 per litre. (NAN)