The Independent Petroleum Marketers Association of Nigeria has come out to warn members of the association not to dispense petrol above the approved N165/litre pump price.

IPMAN in conjunction with the Association of Distributors and Transporters of Petroleum Products recently gave the warning in Abuja, and Nigerians have been reacting.

According to the factional National President, IPMAN, Chinedu Okoronkwo, even if members of the association had called for a hike in petrol price, the Nigerian National Petroleum Company Limited has released enough petrol.

He added that IPMAN members were getting the fuel at N170 – N173/litre, and that was why they wanted an increment in price.

His words, “Our members in Lagos were getting the fuel at N170 – N173/litre, that’s why they wanted price increased. It is only the NNPC that is importing the product. The cost of doing business has changed, so it becomes difficult to sell at N165/litre.”

“That is why we are thanking the NNPC for bringing the product to N143/litre. So, our members must sell the product at N165 which is the government-approved price.”

“Our business requires technology, that is why we brought a seasoned financial expert and we’ve been able to recover a lot of funds in other countries and Nigeria.”

“The incessant mishaps and destruction of trucks on the road, banditry and kidnapping is the reason we are bringing the insurance company to help us. Leaving the risk for the owner of the truck to bear will affect our businesses.”