IPMAN Urges FG To Halt Implementation Of N123.5 Petroleum Pump Price, Until... - THE ENCOUNTER NEWS

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Thursday, April 2, 2020

IPMAN Urges FG To Halt Implementation Of N123.5 Petroleum Pump Price, Until...


Michael-Azeez Ogunsiji 
ABEOKUTA - The South West zonal Chairman, Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Dele Tajudeen has appealed to the federal government to stay action before implementing the new petroleum pump price announced by the management of the Nigeria National Petroleum Corporation (NNPC).

Tajudeen in a press statement issued in Abeokuta on Wednesday, the Ogun state capital, said the plea became necessary in order to allow its members exhaust sales of the petroleum products which they had purchased at an expensive price before NNPC management announced the new price regime.

Tajudeen in the statement berated management of NNPC for announcing further reduction in the pump price of petroleum product without adequate consideration of the welfare of its members, most of whom he said run their businesses through bank loans.

The IPMAN Zonal Chairman further stated that the entire South West IPMAN executive committee has resolved and directed that members of his association should continue to dispense petroleum products to customers at the existing pump price of N125 before the announcement of the new price regime of N123. 5 announced by the NNPC. 

"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 cut off a whole N20 from the pump price, all of us incurred greater debts. And federal government needs to know that some of us obtained loans from banks to run this business and we have to pay interest on them".

"We are still struggling with debts incurred not up to a month ago before another price reduction".

"We however, want to plead with the federal government to please understand with us so that majority of the marketers may not be sent away from business".

Tajudeen also said that his association (IPMAN) identifies with the federal government at this critical period of national disaster and pray that God quickly intervene to save our country.

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