The Independent Petroleum Marketers Association of Nigeria (IPMAN), South West, has threatened down tools over what it termed unfavourable increase in the price of petroleum products.
IPMAN Southwest chairman, Dele Tajudeen, said the new pump price regime didn’t put them into consideration, lamenting that members have lost about N100m because of the unfair price adjustment by the Federal Government.
Mr Tajudeen said the new price regime of 143 as announced by the government, came as a shock, as the government adjusted the depot price from N111.78 to N133.72k without giving a thought to how it would affect the marketers.
The IPMAN Southwest chairman also accused the PPPRA of not being consistent in dealing with the stakeholders, stressing that the government ought to have involved marketers and other stakeholders before announcing any increment.
