Connect with us

Hi, what are you looking for?

Business

Fuel Scarcity: We Can’t Sell Petrol Below N180/litre – IPMAN

Fuel Subsidy
Independent Petroleum Marketers Association of Nigeria (IPMAN) has maintained that its members were not on strike despite the fuel scarcity that has hit Lagos and some parts of the country.

Gatekeepers News reports that the Lagos Zonal Chairman of IPMAN, Akin Akinrinade explained that its members have not been operating optimally because of the hostile operating environment.

“Members of Independent Petroleum Marketers Association of Nigeria IPMAN have shut down their stations, not because we are striking; we are not on strike,” Akinrinade said in an interview with Channels Television.

“Rather, the business environment has been very hostile to us such that we can no longer do business under this condition. For you to load a litre of petrol, you pay in N162 per litre,” he added.

Akinrinade said that it was no longer feasible to sell the product at the recommended price of N165 to a litre, adding that the landing cost of petrol was between N175 to N178 naira to the litre.

“Our members can no longer sell (petrol) at N165 per litre; in fact, there is no reasonable person in this business that can sell below N180 per litre, so it is not as if we are on strike,” he concluded.

You May Also Like

Career Opportunities

Recruitment, apply for CWAY Group recruitment 2022 below. Gatekeepers News reports that the CWAY Group is a multinational company specialised in the production & wholesale supply of...

Career Opportunities

Recruitment, apply for Nokia recruitment 2022 below. Gatekeepers News reports that Nokia is a global leader in the technology industry. With state-of-the-art software, hardware, and services for...

Career Opportunities

Recruitment, apply for US Embassy recruitment 2022 below Gatekeepers News reports that the U.S. Mission to Nigeria comprises the Embassy in Abuja, FCT, and the Consulate General...

Career Opportunities

Recruitment, apply for Mercy Corps recruitment 2022 below. Gatekeepers News reports that Mercy Corps is a leading global organization powered by the belief that a better world...