IPMAN urges FG to end scarcity, restore operations at Enugu depot

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has decried the high cost of procurement of petroleum products by its members in the South-East.
Chairman of IPMAN, Enugu Chapter, Ikechukwu Nwankwo, expressed displeasure with the development, on Tuesday, in Awka.
The pump price of (Premium Motor Spirit (PMS) otherwise called petrol, in Anambra and neighbouring states had hovered between N230 and N250 per litre since mid-December 2017.
Nwankwo said the hike in the pump price of petrol, which had persisted in the South-East was because of the scarcity of the product.
He said the inability of the Nigerian National Petroleum Corporations (NNPC) to supply the product sufficiently to marketers had contributed to the high cost.
He also described the situation in the South-East, especially those under the Enugu depot, as peculiar, noting that the breakdown of the depot was the major cause of the scarcity in the zone.
He said that customers in the area were more vulnerable because marketers from the zone were not protected by the NNPC, as in other depots in terms of access to the petroleum products.
“The problem of price hike in the South-East, where we operate, is because of scarcity.
“The product is not available. If it was available, there will be competition and, naturally, nobody will sell above the normal price.
“Enugu depot has been down, for over a decade, and all the states in the zone now rely on depots that are supposed to be serving others.
“Marketers are supposed to be getting PMS at N133.28 kobo at the NNPC depot, so that we can sell at government approved price of N145, but all the products were bought from private tank farms at between N195 and N200.
“If the pipeline to Enugu depot is working and the depot is functional, you are sure of 20 trucks each to Anambra, Ebonyi and Enugu states, which are the major affiliate states at NNPC rate.
“Now that the Enugu depot is not working, the NNPC should protect customers in the zone by ensuring that marketers from here get at least half of what it should get from other depots.
Nwankwo absolved members of the allegations of hoarding and diversion, saying it was unwise for a businessman to do so.
He condemned the clampdown by the Department of Petroleum Resources (DPR) on its members, when it was obvious that they were not getting products at government approved prices.
He said the DPR should work with the NNPC to find out those that procured products at government price for effective monitoring.
“It is not true that marketers are hoarding, but anybody with proof would show it.
“Why should we hoard it and for whom and how can a businessman invest over N8 million on a product and refuse to sell and make profit, Nwankwo demanded?