N172perlitre: Private Depot Owners Defy FG, Sell At N220 –IPMAN
Written by Olarotimi Oshin on March 11, 2023
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has raised the alarm, saying that private depot owners have been defying the directive of the Federal Government, for them to sell Premium Motor Spirit, (PMS) otherwise called petrol or fuel, at the official price to independent marketers.
The Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had directed private depot operators to sell petrol at the official price of N172 per litre to independent marketers so as to enable the markets sell at N184 per litre in the South and N194 in the North as approved by the regulator. But Engineer Shina Amoo, in an interview with Saturday Telegraph, alleged that the private depot owners had been flouting the Federal governments directive.
Amoo said most of the private depot owners had been selling above the official rate of N172. He said that presently, the private depot owners sell as much as N210, N215 and N220 ex-depot prices to independent marketers. According to him, it was only about four weeks ago that NNPCL sold five trucks of PMS to each of the five depots at N173 per litre.
