Fuel will Become Available at Affordable Prices in Two Weeks- IPMAN

The Independent Marketers Association of Nigeria (IPMAN) has assured Nigerians that fuel will likely be more available in the next two weeks. This was disclosed by the National Operations Controller, Mike Osatuyi during an interview on Arise TV’s Morning Show on Wednesday, 1st of February, 2023.

Osatuyi’s statement comes after a crucial meeting held on the 31st of January with the Nigerian National Petroleum Company (NNPC) Limited and all other stakeholders across the downstream petroleum value chain. The Controller also pointed out that the meeting was a huge success, adding that stakeholders will work together to ensure the crisis comes to an end.

How do they plan to make fuel available at affordable prices?

Speaking during the interview, Mr Osatuyi explained that stakeholders in the industry have agreed to sell fuel at affordable prices. He noted that the agreement will reduce the burden on Nigerians. 

Osatuyi also revealed that there are bad eggs across all strata of the system. Stressing that no one in the value chain is clean when it comes to the challenges causing the fuel crisis, Osatuyi noted that they are all willing to tackle the issues.

The National Operations Controller further stated that more depots will be made available for more products to come into the country. He also addressed the issue of cross-border smuggling which is a major cause of the lingering fuel crisis. Also, Osatuyi charged the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to caution their members against driving their fuel trucks across the borders into neighbouring countries.

The role of NUPENG in petrol price

Osatuyi noted that NUPENG needs to agree on how much marketers will pay for transportation costs. He explained that the agreement will determine how much will be added to the depot pricing. Osatuyi also encouraged the government to invest in a massive importation of fuel, so the prices can reduce. 

Supporting fuel subsidy removal, IPMAN counselled the Nigerian government that the income generated after subsidies are removed from fuel be used to develop critical infrastructure and welfare of the citizens to eliminate suffering.

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