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PMS at N165/litre not sustainable – Oil marketers

The Association of Oil Marketers in Nigeria on Wednesday said that the sale of Premium Motor Spirit also known as petrol is not sustainable at N165/litre.

The Independent Petroleum Marketers Association of Nigeria and the Natural Oil and Gas Suppliers had earlier pushed for the upward review of petrol price, as some members of IPMAN had already effected this by selling above the N165/litre government approved price.

Some of them currently dispense petrol at N180/litre and above in many states including Abuja, Lagos, Ogun, Imo, Niger, among others.

The General Manager, Corporate Communications Department, Nigerian Midstream and Downstream Regulatory Authority, Kimchi Apollo, stated that the government is currently engaging the oil dealers.

“We are meeting them now on the various concerns, so don’t worry. By tomorrow you will know what is the outcome,” he stated.

Apollo added, “The NMDPRA is engaging them in a meeting that is ongoing, so I’ll let you know the outcome. Hopefully by tomorrow you will know the outcome of the meeting.”

Asked if the meeting was being held with just MOMAN or all oil marketers, the NMDPRA spokesperson replied, “We cannot engage only MOMAN, we are engaging all of them. We are engaging them so don’t worry. You will know the outcome later.”

The Secretary, Abuja-Suleja IPMAN, Mohammed Shuaibu, whose unit covers Abuja, Kogi, Niger and parts of Nasarawa and Kaduna, stated that though the association had informed the government about the issues in the sector, he was unaware of the meeting by the NMDPRA.

He reiterated that the cost of petrol was unsustainable at N165/litre, stressing that some filling stations in Abuja were currently dispensing the product at N185/litre, as they now purchased the commodity above N168/litre from depots.

Shuaibu also noted that the indebtedness of the government to marketers with respect to bridging claims must be settled, otherwise the strike by IPMAN members would hold soon.

“The cost of petrol at N165/litre is not sustainable. Bridging claims need to be settled and these are issues that should be addressed to avert the impending strike,” he stated.

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