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IPMAN directs members to commence importation of petrol

04 March 2015, 13:19

Lagos - The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday directed its members to commence importation of refined petroleum products as the Federal Government had pledged to pay outstanding subsidy.

The National President of IPMAN, Chinedu Okoronkwo, disclosed the directive in Lagos.

Okoronkwo said the directive followed assurances from government and to alleviate the sufferings of Nigerians from the ongoing national scarcity of petrol.

According to him, we have had series of meeting with government agencies that are saddled with the payment of subsidy claims and we have been assured of prompt payment.

"IPMAN members have been instructed to commence importation of petrol into the country to avert the lingering fuel scarcity.

"The Ministers of Petroleum and Finance have assured us of prompt payment of the marketer’s money; we urge Nigerians not to engage in panic buying of petrol as adequate petrol will be in circulation soon,’’ he said.

Also read: Fuel scarcity blamed on opposition leaders

The IPMAN boss, however, warned its members to desist from hoarding petroleum products, adding that the association’s surveillance teams would monitor compliance nationwide.

He said the association would penalise marketers indulging in hoarding of petroleum products and other sharp practices.

Okoronkwo said that joint taskforce by IPMAN and the NNPC had been set up to monitor petrol retailing as part of efforts to stabilise supply.

He lauded the programmes of the Pipelines and Products Marketing Company, a subsidiary of NNPC, saying that without them the sanity in the downstream oil sector would not have been possible.

He advised the Petroleum Products Pricing Regulatory Agency (PPPRA) to give import licences to serious marketers who were willing to import petrol.

The management of NNPC on Monday began fresh measures to halt artificially induced petrol scarcity in some parts of the country.

The corporation said it planned to import more than one billion litres of petrol in March to address short fall in supply.



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