Private Depots Crash Petrol Price to N136.5 Per Litre

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…IPMAN praises government

President Muhammadu Buhari, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Nigerian National Petroleum Corporation (NNPC) on Thursday earned the accolade of the Independent Petroleum Marketers Association of Nigeria (IPMAN) that said that private depots which used to sell the Premium Motor Spirit (PMS) for sell at N170 per litre in December to February have now reduced it to N136.5 per liter.

National Vice President of the association, Alhaji Abubakar Maigandi, broke the news to our Abuja correspondent in a telephone conversation.

He had opposed to the cut throat rates and disparities in the sale of the product in private depots and the corporation’s, whom he accused of sharp practices.

But he told The Nation that “There is improvement in fuel supply now. It is not only to accuse NNPC and the rest of them. Now we have to appreciate what they have been doing. Both the President of the country and the minister of State for Petroleum Resources have been doing well.”

Asked whether there is still any sharp practice in the depots, he said that “there is but it is not much. But it has reduced seriously and now the marketers can get the product from the depots within a week.”

According to him, the corporation supplies the independent marketers directly, although some of them still load petrol from private depots.

His words: “To get fuel from the depot now is like one week. They have started supplying fuel to the independent marketers that is why we have seen the queues reducing day by day.

“NNPC supplies the independent marketers directly and still they go to the private depots to load. But instead of hiking that rate too high, even the private depots now have reduced their rate. In a nutshell there is improvement in the distribution. That is why the complaint has seriously reduced.”

Asked whether the Petroleum Equalization Fund was still owing the marketers for bridging of productS, he said “they are owing the marketers but it is not much.”

Culled from TheNation

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