By Ochai Monday

Engr Sanusi Abdul Fari, IPMAN President

As the Independent Petroleum Marketers Association of Nigeria, IPMAN continues to explore avenue to stabilize products distribution across the country, the organization has called on the Federal Ministry of Petroleum Resources, the Department of Petroleum Resources, DPR, Petroleum Price Regulatory Agency, PPPRA and all relevant government agencies to be specific on ex-depot price and the pump price in the new price template being expected.

This the body said is necessary in identifying when a marketer violates the pump price for necessary sanction saying there must exist a reference point in holding persons accountable.

In a press statement made available to newsmen on Monday and signed by IPMAN President, Engr Sanusi Abdul Fari, the body disclosed that as the present product scarcity is occasioned mostly by price uncertainties and rumors of price increase which discourages lifting of product from depots and tank farms, expectations are high that government will release new price template. “However, our submission is that there should be clarity on the depot price and pump price to hold marketers accountable” the statement said.

“We observe that most of the recent price adjustments in petroleum product made by government only reflected the depot price without specifying pump price which is the amount marketers are to be selling. This has caused the undue situation where some dealers sell product at exploitative rates. As long as the sector has not been fully deregulated, there is need to always indicate pump price as necessary guide” the statement added.

The statement further pointed out that discussion has been on-going between government and organized Labor on what the new price regime should be. “It is our concern that whatever becomes the agreement at the end of the day that the pump price be clear to ensure seamless distribution of product in the country”. The president concluded.

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