IPMAN urges DPR to investigate depot operators over fuel price hike

Petroleum industry regulator, the Department of Petroleum Resources, DPR, has been urged to investigate the operations of depot owners in the country, with a view to ascertaining the reason for the recent unauthorised hike in the pump price of premium motor spirit, PMS, popularly called petrol.

The call was made by the Independent Petroleum Marketers Association of Nigeria,IPMAN, at an emergency meeting of oil marketers and the DPR, which held in Lagos.

The call came following threats by the DPR to clamp down on oil marketers, which will include the withdrawal of any operator found selling above the recommended price prescribed by the Federal Government.

The Vice Chairman, IPMAN, Mr Kunle Bamigboye, tried to exonerate his members from the arbitrary hike, but instead blamed the Petroleum Products Marketers Association of Nigeria, DAPPMA, for the incidence and urged DPR to go to the depots to find out the amount at which the product is sold.

The Acting Director DPR, Mr Danteni Ladan, had warned marketers of taking undue advantage of the Nigerian public to hike ex-depot or pump prices, saying the Department will no longer condone such.

Ladan, who was represented by the Deputy Director, Downstream Sector, Mr Alphonsus Mudei, said that evidence abound that marketers had increased prices on account of the epileptic supply of petrol, which is reflected in the sale of the product above the official pump price.

“We have evidence to buttress this. We find this trend unacceptable given that marketers, with whom we have constantly interacted with, have benefited from the Petroleum Support Fund (PSF).

“This PSF has enabled marketers to operate their business at a level that should guarantee constant and uninterrupted supply of products.

“Our interaction with your good selves has been quite cordial and collaborative in ensuring uninterrupted supply of petroleum in particular, to the Nigerian public at government approved price.

“However, some marketers have consistently flouted government’s directives by selling above ex-depot price which in turn translates to higher prices at the pump,” he said.

The Director reiterated that the regulator will no longer tolerate a situation where the supply of petrol was dictated by marketers’ private interests or of the dealers to the detriment of the Nigerian public.

He therefore cautioned those still engaged in the practice of selling petrol and kerosene above government stipulated prices as well as “those who engage in the acts of hoarding of these products to desist from it in the interest of the public, the economy and your petroleum business,” he warned.

Bamigboye, had also complained that the supply of products from the Nigerian National Petroleum Corporation, NNPC was not enough, saying that of the four depots owned by NNPC, only the Monsinmi Depot was loading at a skeletal level.

He added that if marketers were getting the products regularly from NNPC, they would be selling the products according to official pump price.