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IPMAN Promises Improved Fuel Supply, Lower Pump Prices

The Independent Marketers Association of Nigeria (IPMAN) has promised fuel users in the country of improved product supply and lower pump prices within the next two weeks.

The association’s National Operations Controller, Mr Mike Osatuyi, made this pledge on Wednesday while responding to a question on Arise TV’s Morning Show programme.

The marketing chief hinged the projection on the decision reached at a crucial meeting held on Tuesday with the Nigerian National Petroleum Company (NNPC) Limited and all other downstream sub-scetor’s stakeholders.

Osatuyi said that during the all stakeholders in the downstream sub-sector’s vaule chain agreed to work together to ensure an end to the lingering fuel scarcity nationwide.

According to him, part of the decisions taken during the parley is that all stakeholders agreed to sell fuel at affordable prices to mitigate the burden of fuel scarcity on Nigerians and support businesses.

While noting that no player in the value chain can be totally exonerated on the challenges causing the fuel crisis, he IPMAN leader said that following a thorough appraisal of the fuel supply situation all the stakeholders agreed to tackle the identified problems and make fuel available at reasonable prices.

Speaking further on the issue of fuel pump pricing, Osatuyi pointed out that if fuel was sold to marketers at N180 per litre and other costs are added, Nigerians could be buying fuel at N210 to N220 per litre as against the current situation in which some marketers are selling at N500 per litre.

The IPMAN’s National Operations Controller also said that the National Union of Petroleum and Gas Workers (NUPENG) had to agree on how much marketers will pay for transportation costs as this will also determine how much will be added to the depot price by marketers.

Similarly, he spoke on the association’s stance on the proposed fuel subsidy removal, stressing that in order to minimize the negative impact of the fiscal measure on Nigerians, the Federal Government should support marketers on importation of fuel to reduce fuel prices and also ensure that savings on the subsidy were used to develop critical infrastructure and welfare of the citizens.

Osatuyi also expressed the readiness of IPMAN to work with all stakeholders so that Nigerians can benefit from the savings on fuel subsidy.

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