We will shutdown in December 11, IPMAN threatens NNPC

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Lagos State chapter, has threatened to withdraw its services with effect from December 11, in protest against the Nigerian National Petroleum Corporation (NNPC)’s breach of bulk purchase agreement to sell fuel to them at N133.28k per litre.
IPMAN, on Wednesday, said it was set for a showdown with the NNPC for irregular fuel supply at Ejigbo satellite depot.
It said that its members had been running their fuel stations at a loss in the last eight months due to NNPC’s default in the bulk purchase agreement it signed with IPMAN to sell fuel to its members at N133.28k per litre.
“Now, a litre of petrol is being sold to IPMAN members by Depot and Petroleum Products Marketers Association (DAPMAN) at N141, apart from running costs, bank charges and other expenses,
“This made it impossible for IPMAN members to sell a litre of fuel at the controlled price of N145, but N146 per litre. While the NNPC has refused to sell fuel to its members regularly, the corporation is diverting the supplies to DAPMAN at a price of N117 per litre.
“DAPMAN in turn is selling to IPMAN members at N141 per litre,”’ the association said in statement signed by its state Chairman, Alanamu Balogun, Vice-Chairman, Gbenga Ilupeju and the Secretary, Kunle Oyenuga.
IPMAN, therefore, called on President Muhammadu Buhari, the National Assembly, the Minister of Petroleum Resources, the Lagos State Governor and the security agencies to address the issue.