Why we can’t sell petrol at N87 – IPMAN

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According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), it is not yet possible to sell fuel at the regular pump price of N87.

This was disclosed on Monday, May 11, 2015, byAbdulrasheed Olopade Chairman of IPMAN’s Kwara State Branch, according to Daily Trust.

Olopade explained that fuel was being sold at higher prices due to the fact that the product hadn’t been supplied at local depots.

According to him, most independent marketers also bought the product at a higher rate from private depots in Lagos rather than the local depots of the Nigerian National Petroleum Corporation (NNPC).

Olopade said further that fuel would continue to be sold at higher rates until it was made available at the local depots.

Meanwhile, according to industry insiders, the fuel scarcity being experienced in the country might last till June as marketers have stopped importing the product due to uncertainty as regards the payment of the remaining subsidy debt owed them.

Source: Pulse