Independent Petroleum Marketers Association of Nigerian, Ogun State has said that reducing pump price to N40 per litre isn’t realistic as long as we still export our crude oil for refining.
Former Minister of Petroleum Resources, Tam David West had earlier advised the to the President-elect, Gen. Mohammadu Buhari to reduce the pump price to N40
Chairman of IPMAN, in the state, Adeleke Bada said this after the Association’s Annual General Meeting held in Abeokuta.
Bada said “that is not possible, if you look at the nature of the market, that isn’t realistic. Do we have the refineries?
“The only reason that can be possible is when we have our own refineries and we do not export our crude oil for processing. If the processing is done in Nigeria, then it can be sold at the rate of N40 but not until all the refineries are fixed.
On the non-compliance of some filling stations who refuse to sell fuel for N87 per litre, Bada said “That is why they do not want to leave IPMAN alone. The government has not increased the price of fuel, it is still N87 per litre.
“But by the time you get to the depot, after paying around N2.6m for your ticket, a lot of levies are to be paid, levies from PTD, IPMAN and all others, adding them all together with the cost of transporting your trucks to the station, no one is ready to run at a loss.
“I even give them (marketers) kudos for selling the fuel because they do not want the masses to suffer despite all these anomalies. That is why if you can afford to buy it at the prices they sell, then go on because we make use of it everyday.”