The Independent Petroleum Marketers Association of Nigeria in Maiduguri on Monday ordered marketers to stop selling fuel February 6, 2023.
This was owing to the loss being encountered during this period following the Federal Government’s imposed selling price.
Last June, the government set a fixed pump price for petrol which is N165 per litre as shown in the product pricing template.
However, marketers have defy the order and have sold at varied prices depending on location.
They insisted that the government meet specific criteria for them to return to N165/litre. This criteria was that petroleum products must be sold at the approved ex-depot price at various depots, whether private or government-owned.
This issue of pricing with the Federal was still lingering resulting in the decision made my the
IPMAN Maiduguri branch.
They had told their marketers to put the sales of fuel on hold and the payment of ordering product from buyers should stop. This is because they are not in agreement with the standard petroleum pricing of the authority as they are incurring loses.
The letter titled “Suspension of Service” reads ” Following the critical situation as it affect to our sourcing and selling of products at lost and the action of the authority to impose the selling of product at a lost price on our side, you are hereby directed to suspend selling at all filling stations and also suspend payment of ordering product from source until further notice. “
