IPMAN Speaks On Plans To Increase Pump Price Of Fuel

The Independent Petroleum Marketers Association of Nigeria,, IPMAN, has said there is no truth in the rumours around Anambra that it plans to increase the price of fuel.

Chairman of IPMAN, Enugu Depot, Mr Chinedu Anyaso said the Nigeria National Petroleum Company Limited (NNPCL) has not alerted marketers of any intention to increase the price of fuel, asking the people of the state to disregard the speculations.

“There was no plan by marketers to jack up the cost of petrol. There was no announcement from the sole importer of the product either.

“There is no need for panic buying as there is enough product being made available to marketers at different depots by the NNPCL. Let Nigerians ignore the speculations and avoid panic buying,” he said.

Reacting to media reports on the expected commencement of refining of products at Dangote and Port Harcourt refineries, Anyaso said information available to IPMAN was that Dangote refinery had started receiving crude oil from NNPCL but was also yet to start operations.

“If there is any refined product, we will know because we are the middlemen that buy and sell to end users. I believe strongly that Dangote refinery with its capacity of 650,000 barrels per day will help to bring down the price of fuel in the country.

“As for Port Harcourt refinery, the mechanical aspect of the the 60,000 barrel capacity refinery has been completed, while work is still in progress on other aspects.

“That does not mean it has come on stream. We are still anticipating that it will start, but right now it has not started.”

He called on the Federal Government to consider issuing licences to players in the industry, as such move will make it competitive and force down the price nationwide

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