NIGERIA: WHY PETROL CANNOT BE SOLD FOR N87 PER LITRE

The scarcity and persistent increase in the pump price of petrol  is no longer News in virtually all parts of Nigeria as the resultant effect is being felt by all and sundry directly or indirectly. . Nigerians have wondered what the problem could be in the face of  CHANGE promised the nation. Well, the Independent Petroleum Marketers Association of Nigeria (IPMAN) have opened up to say that they cannot sell petrol at the government fixed price of N87/litre because they get the product at N95/litre instead of N77.66k/litre from private Tank Farms/ Depots who they patronized because of lack of petrol at nearby NNPC Depots.

The IPMAN chairman, National Petroleum Corporation (NNPC) depot in Ibadan, Alhaji Olakunle Busari, while adressing Newsmen in Ibadan, the Oyo State capital, weighed in on the issue and stated that the hike in price might persist if the Department of Petroleum Resources (DPR) does not take proactive measures to caution private tank farms from selling the commodity to independent marketers beyond the regulated N77.66k per litre and for the marketers to sell at N87 per litre.

In Akwa Ibom State where petrol is sold above N150/litre, it has been speculated that the Independent marketers cannot transport petrol from Calabar Depot because of the deteriorating state of Calabar-Akwa Ibom road. This may not be far from the truth, or it might just be a  cover story for those who want to hoard petrol and sell at high price.   

 The hike in price and scarcity of petrol has brought hardship to the masses. Yesterday I bought petrol for N160/litre after i finally found it in a certain filling station. I hope the Federal Government, NNPC and DPR will do something about this fast .