Independent marketers protest implementation of fuel price hike

Forum 10 months ago

Independent marketers protest implementation of fuel price hike

The Independent Petroleum Marketers, IPMAN, yesterday, protested over hike in ex-depot price as tank farm owners refused to load products for them over the differential between old and new price.

Stakeholders believe the latest disagreement may affect fuel supply chain if not properly managed.

The marketers said they had paid at the old deport rate of N172 per litre and were about taking deliveries before the price hike but the tank farm owners are demanding they pay the differential to meet up the current price of N470 per litre before lifting the products.

One of the marketers who spoke to Vanguard stated: “I paid for product at the rate of N172 per litre at ex-depot price but after the inaugural speech of President Bola Tinubu, the depot owner refused to give us products; they want us to bring three times the amount we had paid for which is very unfair, backdating the transaction. Government needs to hear our cry as most marketers might commit suicide if not listened to”.

Meanwhile, the National President of Independent Petroleum Marketers Association of Nigeria, Mr. Chinedu Okoronkwo, explained that the protest is expected as he spoke to the Nigerian National Petroleum Company Limited, NNPCL, to check their records for those that paid for products before the removal of petrol subsidy and give them products with time allowance to pay up the balance at agreed interest rate. Thereafter they can open a fresh account for those buying at the current price.

‘‘But NNPCL is no longer Corporation, they are Limited Liability Company, they make profit and should as well make loss. So even if they increase, it is the new people buying now that will pay the current price not those that have paid before. Someone has paid you, let them carry their product.

‘‘All the product aggregate is not more than 1000 tickets nationwide, so let them clear it and open a fresh book for people buying now.

‘‘This subsidy has been paid for upto end of June, now that it has stopped abruptly. Those who has invested should be clear or rather have an understanding with the investor, to pay 50per cent instead of 100per cent.”