Oil marketers told the Federal Government to shut down any depot selling petrol above the approved price.
Sanusi Fari, the National President, Independent Petroleum Marketers Association of Nigeria, IPMAN, explains that selling petrol above government-approved price might soon lead to the increase in the pump price at filling stations.
Fari, while speaking with journalists in Abuja, said the government, via the aid of agencies like the Department of State Service and Department of Petroleum Resources, should prevent such development from causing crisis in the downstream oil sector.
He revealed that some private owners were selling petrol at N165 per liter to Independent marketers, which is outrageously above the government-approved N148 per liter.
Fari said, “Our challenge is the inconsistency in the pricing of petrol. Up till a week ago, the government was still insisting that the February price for petrol remained unchanged.
“And most of the private depot owners are selling above the government stipulated price. As of today ( February 25, 2021), private depot owners are selling at N165 per liter to independent marketers.”
He added, “In the last six years, only NNPC imports refined products into this country, and these tank farms buy their products from NNPC under a controlled price.
“This has affected our businesses seriously because the government is insisting that we sell at the rate of N165, which is not going to work.”