On Thursday, the Rivers State branch of Independent Petroleum Marketers Association of Nigeria (IPMAN) announced it would sell its fuel at above government-approved prices unless the fuel depots also comply with the government directive.
Until the fuel depots agree to sell their oil at the government-approved prices IPMAN will continue to sell their fuel at between N120-N180 per litre. It will be recalled that earlier this week, SaharaReporters published a report on the Federal Government’s decision to approve a N407 billion fuel subsidy.
The Chairman of IPMAN, Mr. Sunny Nkpe, blamed the depots for the inability of his union to sell at the government mandated price.
“The depots sell to us at a high price and expect us to sell at the official rate. We will not accept that,” the Chairman said.
However a representative of the depot owners, Mr. Paul Fred, disagreed arguing that the depots faced the problems of allocation and finance.
“Amidst said challenges, the depots owners are ready to play by the rules of the game in order to move the country forward,” Mr. Fred explained.
The Department of Petroleum Resources warned both IPMAN and the depot owners that it would not tolerate any illegal acts by either party.