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Oil marketers allay fears over likely fuel pump price hike

By Abimbola Fashakin, Lagos
The leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has told it members to disregard the rumour of a possible price hike of petroleum products.
Making the assurance was the Chairman of the Kano State branch of the association, Alhaji Bashir Dan-Malam, who said in Kano on Friday that the call was necessary to avert hoarding and its attendant hardship on Nigerians.
Dan-Malam advised members to continue with their normal business activities as the association would sanction anyone caught hoarding or selling the product above the approved price of N145.
“As leaders of the association, we feel it is necessary to tell our members the truth as the government has no plan to increase fuel price for now. The rumour is a lie and anything you hear that is not from us, ignore it,” the IPMAN chairman said.
He commended the recent meeting of the association with the Chief of Staff to the President, Malam Abba Kyari, Minister of Finance, Mrs Kemi Adeosun and Minister of state, Petroleum Resources, Dr Ibe Kachukwu.
The chairman said the meeting was an indication that the Federal Government was ready to listen to their grievances and resolve them.
Dan-Malam said that during the meeting it was resolved that the union should go and reconcile with the Petroleum Equalisation Fund (PEF) on the outstanding payment of transportation charges.
“During the meeting it was agreed that a committee to be chaired by the Minister of Finance, Mrs Kemi Adeosun consisting of all stakeholders be set up with a mandate to reconcile all outstanding balances.
The aim is to come up with a plan to clear all the issues that has plagued the sector.
“The administration has clearly demonstrated its willingness to create an enabling environment for a viable and sustainable downstream sector in Nigeria and IPMAN is 100 per cent committed to achieving this goal,” he said.

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