IPMAN fails to sell petrol at N140

FILE PHOTO: A woman walks past a "No Petrol" sign at a fuel station in Harare, Zimbabwe, October 9, 2018. REUTERS/Philimon Bulawayo/File Photo

Members of Independent Petroleum Marketers Association of Nigeria (IPMAN) has refused to comply with its leadership to sell petrol to customers at N140 per litre. The product currently sells for between N143 and N145 per litre.

Its leadership had directed the oil marketers to sell the product at N40 per litre in the run up to the general elections.

However, the Caretaker Chairman of IPMAN Western Zone, HRH Obafemi Ogbaro, has appealed to members to comply with the directive.

He made the appeal after the chapter’s executives meeting in Lagos.

Ogbaro said: “My attention has been drawn to a purported press statement credited to a marketer in Mosinmi depot who was a former vice chairman of IPMAN western zone denouncing the directive of our IPMAN National President, Elder Chinedu Okoronkwo, to our patriotic members to sell petrol to the general public at N140 per litre.”

He said the association took the decision to ameliorate the suffering of the masses because of the rescheduled elections, adding that IPMAN members as a responsible association felt the pains Nigerians suffered for travelling to their various destinations to perform their civic duties of voting the candidates of their choice in the Presidential, National Assembly, Governorship and State Assembly elections which was rescheduled to February 23, 2019 and March 9, 2019 respectively.

He said the group shared in the pains of Nigerians hence the sacrifice in this trying period to agree to a N5 per litre reduction. “This will eat into our members’ profit but we have to give back to the society as part of our Corporate Social Responsibility. The reduction in price commenced from Wednesday, February 20, 2019 to March 11, 2019.

The national president of IPMAN, Elder Chinedu Okoronkwo on February 17 directed its members nationwide to reduce petrol pump price from N145 per litre to N140.

He had said: “The reduction will last till March 12 to help reduce transport fares for Nigerians as they travel to vote for their candidates for the presidential, National Assembly, governorship and House of Assembly elections. After that date, we will review the price.”

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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