IPMAN warns FG on impending fuel price hike

Ayobami Adedinni

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has forewarned the Federal Government on the alleged decision by private depot owners to increase fuel prices.

The Chairman, IPMAN Kano Branch, Alhaji Bashir Danmallam, disclosed this in a statement on Friday.

He said that the decision would cause fuel crisis in the country, if not halted.

The chairman said that depot owners have increased the price of the product from N148 per litre to between N153 and N155 per litre since Friday last week.

“The association found it necessary to alert the government in order not to blame its members when they increase the price of the commodity as they will not sell the product at a loss.

“We are calling on the management of the NNPC to investigate the issue because we know it is only the Federal Government that imports fuel not private depot owners.

“As I am talking to you now, private depots in Warri, Calabar, Lagos and Oghara have started increasing their prices.

“We hope the management of the NNPC will investigate the matter with a view to proffering solutions,” Danmallam said.

He accused the private depot owners of trying to cause fuel crisis in the country by closing their depots as the year comes to an end in order to maximise profit.