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Tag: IPMAN

Petrol imports from Russia records 84% increase - Report
Economy

FX trade, crude oil price account for 80% of petrol price — IPMAN

The Independent Petroleum Marketers Association of Nigeria have explained that the international price of crude oil and the exchange rate constitute the largest components of the cost build-up for PMS, accounting for over 80 per cent.   The PUNCH reported that the Secretary, IPMAN, Abuja-Suleja, Mohammed Shuaibu, said, “The rise in crude oil price and […]

Oil and Gas

Fuel hike: Why old stock sell at new price – Marketers

The Independent Marketers Association of Nigeria, which represents oil marketers, has emphasized that in order for its members to continue operating, they must sell their petrol stock at the new pricing. Due to their inability to raise the necessary funds to load from depots and the Nigerian National Petroleum Company Limited, several of IPMAN’s members […]

Queues return as IPMAN opposes Tinubu subsidy removal
Oil and Gas

Petroleum tanker drivers enemy to subsidy removal — IPMAN

The Independent Petroleum Marketers Association of Nigeria has urged the Federal Government to prevail upon the Petroleum Tanker Drivers, to stop the illegal levy imposed on their members.   The News Agency of Nigeria reported that IPMAN National Public Relation Officer, Yakubu Suleiman, said this during a news conference in Abuja, that the call followed […]

IPMAN threatens strike over Soludo's taxation
Business

IPMAN seeks govt intervention to curb pipeline vandalism

The Independent Petroleum Marketers Association of Nigeria, Ejigbo Satellite Depot, has expressed concern about ongoing pipeline vandalism at Idimu in Lagos’ Alimosho Local Council Development Area. According to the News Agency of Nigeria, the chairman of IPMAN Ejigbo Satellite Depot, Mr. Akin Akinrinade, stated on Sunday that some vandals had been caught stealing petrol on a section of […]

IPMAN threatens strike over Soludo's taxation
Oil and Gas

IPMAN debunks plan to raise petrol price to N700/litre

The Independent Petroleum Marketers Association of Nigeria has refuted the association’s purported proposal to raise the pump price of Premium Motor Spirit, better known as petrol, to N700 per litre nationwide. According to the News Agency of Nigeria, this was disclosed by the Chairman of IPMAN Southwest Zone, Alhaji Dele Tajudeen in an interview with the News […]

Queues return as IPMAN opposes Tinubu subsidy removal
Policy and Regulations

Subsidy: IPMAN commends FG over approval for private importers

The Independent Petroleum Marketers Association of Nigeria has commended the Federal Government for approving the importation of petroleum products by private firms.   The chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, Chinedu Anyaso, said this while reacting to the development in Awka on Sunday, according to the News […]

Petrol queues surface in Lagos, Abuja after Tinubu's subsidy announcement
Opinion

Subsidy removal: IPMAN blames panic-buying for resurgence of queues

The Independent Petroleum Marketers Association of Nigeria has attributed the sudden resurgence of queues at petrol stations in parts of the country to panic-buying.   PUNCH Metro had on Monday reported that queues for petrol resurfaced in parts of the country shortly after the President, Bola Ahmed Tinubu, announced the cancellation of petrol subsidy.   […]

Queues return as IPMAN opposes Tinubu subsidy removal
featured

Queues return as IPMAN opposes Tinubu subsidy removal

  President Bola Tinubu’s plan to execute his predecessor’s decision to withdraw fuel subsidy by the end of June has been met with opposition from the Independent Petroleum Marketers Association of Nigeria. AM Business on Monday reported that Tinubu said in Abuja that his government would end petroleum subsidy payments. He argued that the Federal […]

Petrol pump
Business

Scarcity: FG confirms availability of 1.3bn litres of petrol

Nigeria has confirmed the availability of about 1.3 billion litres of petrol which is said to resolve the lingering fuel scarcity. This was according to a report disclosed to The Punch on Saturday by the General Coordinator, South-West, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Kadoso. Kadoso said this during a visit by the […]

Petrol pump
Business

Fuel: N195/litre difficult to enforce, marketers tell FG

Oil marketers have said that it is difficult to enforce the approved N195/litre price on all filling stations. This was after the Independent Petroleum Marketers Association of Nigeria disclosed  on Wednesday that Nigerian National Petroleum Corporation had promised that it had reserved  about 140 million litres of petrol for its association members to address fuel […]

IPMAN ends strike, orders sale of petrol
featured Oil and Gas

IPMAN ends strike, orders sale of petrol

Juliet Buna The Independent Petroleum Marketers Association of Nigeria said it has called off the suspension notice earlier sent to its members following an amicable resolution of the issues of contention. The association had earlier on Monday sent out a notice to its members, directing them to suspend the sale of petrol and to shut […]

Petrol pump
Business

Stop selling fuel, IPMAN orders members

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 […]

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