IPMAN threatens strike over hike in fuel price

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Independent Petroleum Marketers Association of Nigeria, on Sunday, threatened to stop lifting petroleum products in all the Southwest depots over alleged “unfavourable increment in the prices of petroleum products.”

Southwest Chairman of IPMAN, Dele Tajudeen, stated this while addressing newsmen on the new petrol pump price as announced by the Petroleum Products Pricing Regulatory Agency.

He said the new price regime of N143.8k as announced by government, came as a surprise, noting that the government moved the depot price from N111.78k to N133.72k, and pump price to N140.80k without considering the marketers’ plights, a situation he described as “unfortunate.”

He added that the PPPRA was not consistent in dealing with the stakeholders, adding that the normal thing the agency should have done was to involve marketers and other parties before announcing any increment.

Tajudeen also berated the PPPRA for announcing a new price regime without adequate consideration of the welfare of its members, most of whom he claimed conduct their businesses with bank loans.

He, however, disclosed that the IPMAN executive committee in the zone had resolved to embark on strike, if government fails to look into the issue.

He said, “It is very disheartening to hear that a new price regime is coming to effect, without considering the plight of marketers who bought these products at an expensive price.

“We want to categorically state here that the last time when Federal Government put the price at N145, we still complained that it was inadequate but now we can describe it as worse.

“In May this year, when the price was cut to N125.00k, many of our members ran into debts as the landing cost and depot price were at a loss, to pay bank loan also became a serious issues for us.”

IPMAN Southwest chairman added, “It is disheartening that the Federal Government failed to consider any of our members for palliatives or for compensation for the losses we incurred during the lockdown.”