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Tag: IPMAN

  • PETROAN, IPMAN reveal why petrol is scarce

    PETROAN, IPMAN reveal why petrol is scarce

    Marketers unders the umbrella of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Saturday revealed why fresh scarcity of the Premium Motor Spirit (PMS) has hit the Federal Capital Territory (FCT) and its environs.

    PETROAN National President Dr. Harry Billy, said the only source his members lift the product is the Nigerian National Petroleum Company Limited (NNPCL) and when there is no fuel it means the state -owned oil firm has not supplied.

    “We as members of PETROAN, we are sourcing for product and the only way we source for product is from NNPCL. So whenever NNPCL gives us product we will deliver,” he said .

    Asked whether the product is scarce at the NNPCL depots,” he said.

    Asked whether that means the product is not readily available, he said: “We are not the importers. We are not the ones keeping the daily inventory so we cannot say whether NNPCL has product or not.”

    He added: “We are the extension that makes their efficiency. So if you see scarcity like this that is affecting the place, the way I saw it yesterday (Friday), it is simply the fact that our principals are working out the process to see how they can buy PMS for our members. That is exactly how it is.”

    The IPMAN National President, Alhaji Abubakar Maigandi, who spoke with The Nation, said “loading is very slow at the depots.”

    Asked to state the depot price, he said: “private depots in Lagos increased their prices from N630 to N650 of fortnight to N715 per litre.

    Maigandi, however said said the NNPCL has not adjusted its depot price from N570/litre.”

    There was tension in the FCT at the weekend as only a pocket of retail outlets, mostly those of NNPCL were open to customers.

    While NNPCL vended the product for N617/litre amid endless queues, some stations of A.A. Rano and NipCo sold it for N690 per litre with motorists falling over one another to get the product.

     

  • IPMAN strike in Adamawa: petrol price hit N2,000 per litre

    IPMAN strike in Adamawa: petrol price hit N2,000 per litre

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) Adamawa/Taraba chapter, has expressed resolve to continue its ongoing strike even as petrol sells N2,000 per liter.

    The IPMAN Chairman, Alhaji Dahiru Buba, who stated this in an interview in Yola on Tuesday, said that the strike was occasioned by incessant harassment of its members and illegal seizures of their tankers carrying petrol by officers of the Nigeria Custom Service (NCS).

    He said, customs officers had abandoned their designated areas of operation at the borders and were now targeting legitimate businesses in metropolitan and local government areas.

    According to him, these have lead to financial losses, artificial scarcity and hike in products’ prices and the strike is continue until NCS stop their activities.

    The strike and attendant high cost of petrol  has resulted in low vehicular movements on the roads.

    Abubakar Muhammed, a resident, told NAN that workers and other commuters now find it difficult to get transport to their offices and destinations.

    Muhammad explained that this was due to the sharp rise in transport fares as commuters now pay N700 instead of N300 for a drop.

    Most fuel stations in Yola are  closed and motorists can only source petrol from black markets in some parts of the metropolis and state.

    Recall that on June 10, the Comptroller-General of the NCS, Adewale Adeniyi, during a news briefing in Yola, solicited support and cooperation of all stakeholders in the fight against smuggling, especially of petrol.

    He said that smuggling of petroleum products across the country’s borders was a sabotage of the Nigeria’s economy.

    Adeniyi therefore solicited the cooperation and support of all Nigerians with security agencies to curb the menace.

  • Fuel scarcity: IPMAN demands N200bn bridging claims

    Fuel scarcity: IPMAN demands N200bn bridging claims

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) Depot Chairmen Forum has exonerated its members from the current fuel scarcity in the country.

    According to IPMAN, the current fuel scarcity in the country is caused by inability to source petroleum products.

    The IPMAN Depot Chairmen Forum also threatened to withdraw its services over non-payment of N200 billion bridging claims by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to its members, since 2022.

    Alhaji Yahaya Alhassan, the Chairman, of the Forum said this while briefing  newsmen on Tuesday in Abuja.

    Alhassan said the Nigerian National Petroleum Company Limited (NNPC Ltd.) was the sole importer of the product, but the marketers could not source products from NNPC Ltd. deport, rather from the private depots at high rate.

    “We cannot buy fuel from the private depots at N950 and transport the product from Lagos to the North and other parts of the country with N2 million and still sell it at N900 or N1, 000.

    “It is expedient for us to state that we are more pained by the non-availability of petroleum products in the country, which has given rise to another round of untold hardship for Nigerians.

    “Contrary to claims that IPMAN members are hoarding Premium Motor Spirit (PMS) known as fuel, we would like to categorically state that PMS scarcity is wholly triggered by inability to get fuel from NNPC and not IPMAN,’’ he said.

    Meanwhile, the NNPC Ltd. Chief Corporate Communications Officer, Olufemi Soneye said the disruption was due to logistical issues which had since been resolved.

    “We currently have an availability of products exceeding 1.5 billion litres, which can last for at least 30 days. Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved.

    “However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.

    “Some folks are taking advantage of this situation to maximise profits. Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain,’’ Soneye said.

    He however, said the lines would clear out soon.

    On the non-payment of bridging claims, the IPMAN forum said it was distressed and depressed by the laidback attitude of the NMDPRA towards the survival its member’s businesses, arising from its refusal in paying the claims.

    “It is with deep frustration that we have assembled here today as the IPMAN Depot Chairmen Forum. It is also disheartening to note that some of our members have completely shut down businesses and retrenched employees.

    “As businessmen and women, our members acquired bank loans to keep their fuel retail outlets running on a daily basis across the nooks and crannies of Nigeria in order to serve the teeming population of Nigerians,’’ Alhassan said.

    He recalled that Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), at a stakeholders meeting in February mandated the NMDPRA management to clear the entire debt in 40 days.

    “However, today, we have crossed the 40 days’ time lapse given to the NMDPRA to clear the debt, and it is shameful to state that only the paltry sum of N13 billion has been paid, ignoring minister’s directive.

    “We are not happy with the indiscriminate increment in the issuance and renewal of Sales and Storage Licence, by the NMDPRA, and the subsequent delays in acquiring the licence, which our members are recently subjected to.

    “We are also calling on President Bola Tinubu to look into this unwholesome figure which is highly detrimental to our business and reverse it forthwith, as it is bound to impact negatively on the masses.

    “We are poised to take far reaching decisions that may cripple the supply and sales of petroleum products across Nigeria if our demands are not met within the shortest period of time.

    “We are collectively prepared to withdraw our services, shut down every single outlet, and suspend lifting of products forthwith till our demands are fully met, and the consequences will be terrible.

    “We call on our members to however remain resolute and law abiding, even as we draw close to the immediate ultimatum for our demands to be met by the NMDPRA,’’ the chairman said.

    Reacting to the IPMAN’s claims, the Acting Head, Corporate Communications, NMDPRA, Seiyefa Osanebi said the bridging claims payment was ongoing.

    “The bridging claims payment is always an ongoing process,” she said.

  • IPMAN gives Soludo ultimatum to address marketers’ grievances

    IPMAN gives Soludo ultimatum to address marketers’ grievances

    The Independent Petroleum Marketers Association of Nigeria (IPMAN), has given Gov. Chukwuma Soludo of Anambra one month within which to address the demands of marketers in the state or face total shutdown of operations without further notice.

    Marketers in the state reached this decision at the end of the statewide meeting held in Awka on Tuesday.

    Mr Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, who addressed Journalists after the meeting, said the association had reported cases affecting its members to the governor without any response.

    Anyaso said the grievances of marketers in Anambra included the issue of consolidated revenue payable and withdrawal of all litigations against members based on multiple taxation which was not in line with the understanding IPMAN had with the Anambra government.

    He said IPMAN discussed the problem of non-payment of debt amounting to about N900 million owed contractors who supplied diesel for powering streetlight projects in the state.

    Anyaso also said that among the demands of the association was the demolition of part of the property of Chris Tee Nigeria limited, a marketer at Trans-Nkissi phase 1 along Onitsha-Otuocha road which was destroyed by agents of government.

    He said IPMAN would not issue further notice upon the expiration of the deadline before shutting their outlets.

    Anyaso thanked Chief Ken Maduako, a patron of the association, Mr Golden Iloh, member of the Anambra State House of Assembly and representative of the Anambra Internal Revenue Service, for their intervention and hoped that the Soludo administration would act on their plea to prevent the looming industrial action.

    He commended Gov. Soludo for his efforts to make Anambra a peaceful and liveable state while urging him to make the business environment conducive for investors, especially oil marketers.

    He pledged positive disposition of the association to continue to support his administration to succeed.

    The chairman commended marketers for complying fully with the partial shutdown and attendance to the meeting, saying it was a great show of comradeship.

  • Nigerians will bear brunt of incessant increase in tariffs on petroleum products – IPMAN warns

    Nigerians will bear brunt of incessant increase in tariffs on petroleum products – IPMAN warns

    The Independent Petroleum Marketers Association of Nigeria (lPMAN) says incessant increase in tariffs on petroleum products by the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA) might adversely hinder the success of oil subsidy removal.

    Alhaji Debo Ahmed, National President, IPMAN made the observation in a statement he issued to newsmen on Tuesday in Lagos.

    Ahmed said the increase could also adversely affect the overall business environment of the downstream sector.

    He said the arbitrary and excessive nature of the increment not only discourage potential investors, but create barriers for fresh investors to enter and place burden on existing businesses.

    According to him, the resultant cost is transferred to the consumers and the general public.

    “Those that are already in the business will pass the burden to the consuming public and definitely this affects the cost of products.

    “I think NMDPRA, as agent to the Federal Government, should advise them on the way to succeed on this removal of oil subsidy,” he said.

    Ahmed noted that the recent spike in diesel pricing and the mounting unpaid bills emanating from the old Petroleum Equalisation Funds demonstrate the tangible impact on stakeholders in the downstream sector.

    “In economics, payment of internal debts increase the economic activities of a country and lessen the attention given to the dollar.

    “When internal economic activities boom, it generates employment and spurs up the value of the local currency,” Ahmed added.

    “IPMAN, as an association, will advise the authorities to critically look into the tariff increase, which will not help the oil subsidy removal.

    “Between 2020 and 2023, NMDPRA had increased some, if not all, of its operational tariffs to over 600 per cent and added other unnecessary tariffs, generating lines to the already existing ones,” he said.

    He cited an example that calibration per tank, which  hitherto charged N20,000 per tank, had been increased to N150,000 per tank, representing 650 per cent.

    He said that the pressure testing, which cost N20 000 per tank, had also increased to N150,000 per tank, respectively.

    Ahmed pointed out that the cumulative effect of these tariff increases was imposing considerable financial burdens on existing and new stations.

    According to him, renewing a license for an existing station could amount to over N2 million, while new stations might face expenses exceeding N4 million.

    Ahmed expressed concerns about a new five per cent tax on the sales or acquisition of a filling station, which he believed could discourage sales, mergers, and acquisitions within the industry.

    He explained that these tariff increases were counter productive to the goal of deregulation, intended to attract more investors, open the market, ensure product availability, and offer consumers choices.

  • Dangote Refinery begins registration of distributors

    Dangote Refinery begins registration of distributors

    The management of Dangote Petroleum Refinery has commenced registration of distributors for its products, a statement by the outfit said on Friday in Lagos.

    According to the statement, members of three prominent associations that constitute 75 per cent of the total market in Nigeria have been registered.

    The associations are Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Oil Marketers Association of Nigeria (MOMAN).

    The company is also considering other marketers that have signified interest in the lifting and distribution of its petroleum products in the country, the statement said.

    It quoted the Executive Secretary, DAPPMAN, Mr Olufemi Adewole, as saying that the association had commenced discussions with Dangote Petroleum Refinery regarding the lifting and distribution of refined petroleum products.

    DAPPMAN, it said, had discussed with Dangote last year during a meeting between its Chairman, Dame Winifred Akpani, 2nd Vice Chairman, Alhaji Mahmud Tukur and the President of Dangote Group, Aliko Dangote.

    “The meeting was to explore areas of collaboration between the refinery and DAPPMAN members whose nationwide presence will be critical in distributing products from the refinery to the consumers,” it said.

    It added that the refining of petroleum products from Dangote Refinery would accelerate Nigeria’s economic development and provide DAPPMAN members with seamless access to refined petroleum products.

    In the same vein, National Vice President of IPMAN, Alhaji Hammed Fasola, said the association had declared its intention to lift and distribute petroleum products from Dangote Refinery.

    “We have already established a business relationship with Dangote Refinery. We believe that the relationship is going to be a win-win one.

    “Our association owns 80 per cent of the retail outlets in the country and we have all it takes to ensure smooth distribution of petroleum products from Dangote Refinery across the country,” the statement quoted Fasola as saying.

    On his part, the Executive Secretary of MOMAN, Clement Isong, confirmed that members had registered with Dangote Petroleum Refinery to become marketers of its products.

    “I confirm that my members have registered with them. We were waiting for the production to start and now it has started; we shall soon start discussing the terms,” Isong was quoted as saying.

    The statement said that the refinery was designed for 100 per cent Nigerian crude, with the flexibility to process other crudes.

    It said that the refinery could load 2,900 trucks a day at its truck-loading gantries.

  • Anambra gov’t meets IPMAN over debts, blames delay on bloated claims

    Anambra gov’t meets IPMAN over debts, blames delay on bloated claims

    The Anambra government on Tuesday met with leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN) over debt claims by some marketers who supplied diesel for streetlight generating sets.

    Mr TonyCollins Nwabunwanne, the state Commissioner for Local Government, Chieftaincy and Community Affairs, led the government team while Mr Chinedu Anyaso, chairman of IPMAN Enugu Depot Community, led the marketers in company of his executive members and some of the contractors.

    Speaking to newsmen, Nwabunwanne said the delay in payment was due to discrepancies and bloated bills which some of the contractors submitted.

    The Commissioner, who described meeting with the marketers as productive, said Anambra government was willing and ready to pay the contractors as soon as the inconsistencies in claims are cleared.

    He promised to present their plights to the governor in the coming days for his consideration.

    “We had a fruitful meeting, the marketers agreed that the blame is not entirely on government but that of the contractors, some of whom have made bloated claims.

    “But we have considered all that, we are making the necessary adjustments and very soon, Mr Governor, Prof Chukwuma Soludo, will issue a directive,” he said.

    On his part, Anyaso thanked the Commissioner for his prompt response to their plea.

    Anyaso said IPMAN was satisfied with the outcome of the meeting and was hopeful that Soludo would act swiftly as promised in the interest of marketers and contractors.

    “I want to thank Gov. Soludo for the prompt response we got after complaining to him about the debt to our members and the effect on their businesses.

    “The Commissioner explained the issues to us and we understand better, but more importantly, we look forward to the fulfillment of the promises made in the meeting,” he said.

    IPMAN had complained about the non payment of about N900 million owed contractors and marketers who supplied diesel to the Anambra government for powering streetlight generators.

     

  • Subsidy Removal: Marketers commend FG on plans toward palliatives

    Subsidy Removal: Marketers commend FG on plans toward palliatives

    Some marketers in the oil and gas industry have commended the Federal Government’s plans to ensure adequate palliatives to reduce the effect of fuel subsidy removal on Nigerians

    The marketers gave the commendation in separate interviews with on Monday in Lagos.

    Mr Mike Osatuyi, the Operations Controller of the Independent Petroleum Marketers of Nigeria (IPMAN), said President Bola Tinubu spoke well during the nationwide broadcast.

    Osatuyi also commended the effort of Tinubu’s administration for saving over a trillion naira from subsidy removal within two months.

    He said that the money saved should be used for all that the President numerated; such as transportation, school fees, agriculture, industry and soft loans for different people.

    “It is posible for government to save eight trillion naira in the next one year if such huge amount is plunge into the system.

    “It will go along way, provided the money saved is being monitored adequately and used judiciously,” he said.

    Osatuyi said: ” it is a brilliant speech and speech of hope, made by the President.

    “The President has said that the subsidy payment has been in the hands of few Nigerian at the expense of our economy and Nigerians and they are heartless.

    “If the President can act as promised, Nigerians will believe in him and his administration.

    “President Tinubu has promised to roll out buses using Compressed Natural Gas (CNG) to alleviate the suffering of Nigerians.

    “Such palliative will also help in reducing the suffering of Nigerians,” he added.

    The IPMAN boss acknowledged that subsidy money were being enjoyed and embezzled by the few.

    He advised that states and local governments to replicate such palliatives to its citizens, to bring relief to all sundries.

    “It is not easy to write what has been wronged for 40 years, let’s Nigerians exercise little patience and believe in President Tinubu.

    Osatuyi said government should ensure that those committees that would be charged to impliment the palliatives and what the President had promised should be people of intergrity, values and know the pains of Nigerians.

     

    Similarly, Mr Clement Isong, the Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), said: “I believe this was the speech we have been waiting for, but it must be accompanied by a communication campaign, designed to calm tensions and build hope.

    “One trillion in savings is proof of concept.

    “The speech also identified where the savings will go, especially into transport, food and education!

    “I am especially happy with the comment that government will intervene where exchange rates may push the cost of imported petroleum products too high,” he said.

    Isong said that “a well conceived and well written speech.

    “We now need consistent communication and implementation, ” he explained.

    Tinubu said during his nationwide broadcast that for over two months, government had saved over a trillion Naira.

    Tinubu said that the money will now be used more directly and more beneficially for you and your families.

    According to him, for several years, he had consistently maintained the position that the fuel subsidy had to go.

    “This once beneficial measure had outlived its usefulness.

    “The subsidy cost us trillions of Naira, yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security,” he added.

  • Alleged extortion: Call petroleum tanker drivers to order, IPMAN urges FG

    Alleged extortion: Call petroleum tanker drivers to order, IPMAN urges FG

    The Independent Petroleum Marketers Association of Nigeria (IPMAN), has urged the Federal Government to prevail upon the Petroleum Tanker Drivers (PTD), to stop forthwith the illegal levy imposed on their members.

    IPMAN National Public Relation Officer (PRO), Yakubu Suleiman, said during a news conference in Abuja on Wednesday that the call followed a meeting of the Central Working Committee (CWC) of the association.

    Suleiman said it had become imperative for Nigerians especially the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to know those allegedly sabotaging the distribution of Petroleum Motor Spirit (PMS) in the country.

    “We want the government and NNPCL to be aware that Petroleum Tanker Drivers (PTD), as an association, is allegedly the number one enemy of fuel subsidy removal and deregulation,” he said.

    Suleiman said that the PTD had allegedly exhibited an act of sabotage on PMS distribution by levying IPMAN members N23,000 for each truck loaded at the depot.

    He described the levy as an “extortion”, while calling on President Bola Tinubu and the NNPCL to call the tanker driver to order.

     

    The IPMAN PRO said that the levy imposed on their members by tanker drivers had further depleted the little profit left for them to keep their fuel distribution business going.

    He said that a truck load of PMS initially cost them about seven million naira but that the subsidy removal pushed it to above 23 million naira to load and transport the same product to their various fuel stations.

    “We have been fighting extortion by petroleum tanker drivers for about 10 years now and we have been telling them that this market is based on profit but our pleas have fallen on deaf ears.

    “They have been extorting different amounts from our members; from N200,000 and we thought that with the removal of subsidy that the era of extortion will go, unfortunately, more have been added.

    “Reports have reached our secretariat of another levy of N23,000 being collected by PTD from our members and we don’t know what that money is for.

    “We make a profit of only N500,000 on each truck of PMS we now buy at above 23 million naira and it can take us days or weeks to sell.

    “Inside that N500,000, there are other logistics that we must take care of, especially providing fuel for the truck that will carry the product, providing fuel for the engine that will carry light at the stations and so on.

    “At the end of the day we are left with about N200,000; we do it out of patriotism and support to the FG and NNPCL, then from nowhere our members are paying N23,000 for what they don’t know about,” Suleiman said.

    He therefore, urged PTD to steer clear of that levy as they have instructed IPMAN members to stop the payment.

    The IPMAN PRO said that continuing the levy or extortion would lead them to taking a drastic action, to protect their members.

    “If nothing is done, we will call our members to stop loading and we have given a time frame to watch development before we carry out our action.

    “We urge them to call PTD to order to henceforth stop collecting these levies from our members. Trucks belong to us an drivers work for us, then, why are we been surcharged for providing food for the family.

    “The constitution of PTD allows them to collect only N300 from their members, not outside and not from IPMAN. We support PIA.

    “As IPMAN, we levy only our members; we don’t levy other organisations or associations, which is what our constitution says, but to our chagrin, tanker drivers left their territory and started further levying of IPMAN members.

    “At the moment we are working on ensuring that more importers join the NNPCL to bring in PMS. And we hope that the price will soon begin to come down since the market forces determine the price.

    “We assure President Bola Tinubu and NNPCL that IPMAN as an association, is in full support of deregulation and we will continue to ensure that supply and distribution of petroleum products succeed in the country.

  • IPMAN speaks on selling petrol for N700 per litre

    IPMAN speaks on selling petrol for N700 per litre

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied alleged plan by the association to increase pump price of Premium Motor Spirit (PMS) also known as petrol to N700 per litre nationwide.

    The Chairman of IPMAN Southwest Zone, Alhaji Dele Tajudeen, who denied the allegation in an interview in Ibadan on Friday, urged Nigerians to disregard the speculation and not to engage in panic buying.

    Tajudeen stressed that the price of the product would not be more than what is being sold presently.

    He commended President Bola Tinubu for removing the subsidy on petrol adding that it was long overdue.

    “Even in PIA bill, it has been clearly stated that the subsidy must be removed,

    ”So, I want to commend him for removing the subsidy and I want to say that we are in support totally. This is because the subsidy was a scam.”

    He said the slight increase in pump price was because of the transportation cost and that Nigerians should be at rest as the commodity will not be out of reach for the masses.

    “I want to disabuse the mind of the people that they should not panic about it, there is no cause for alarm, we are in control and there is nothing like that.

    “So, people should be rest assured that there is no way they can buy petrol more than the price it is being sold now.

    “If we look at the price from NNPC retail limited, which is an integral part of NNPC limited, they have more advantages than independent marketers and major marketers.

    ”So, it was the retail price that they announced they had never given a specific price to the independent marketers.

    “However, I have read what somebody put into the paper, it is just speculation it is not a reality. Nothing like that I want to assure the masses.

    “There is no how the price can go to N700 as we speak, because even if the FX is N700 or N800 that has not nothing to take the price of petroleum from N500 to N700,” Tajudeen said.

    He noted that the product had been deregulated, hence the differential in prices was due to transportation as it is related to location.

    ”If you are moving products within Lagos the price may not be more than N300,000 but if you are moving up to Ibadan or there about it could be as much as N500,000.

    ”And if you are going to Ilorin, it could be as high as N700,000 that would account for differential in prices.

    “I want to say with all sense of authority that as of today within Lagos metropolis nobody should sell more than N515 to N520 per litre.

    ”Though NNPC has given us the price but the reality of it is that what we buy from the market; because NNPC limited is not the only source for our product, we get from private depots.

    “So, whatever we buy is what we put our own margin and sell.

    ”But as of today, the highest you can get anywhere should be around N550; Lagos N510 per litre; Ogun State between N500 and N520,” Tajudeen said.

    Meanwhile, a coalition of Civil Society Organisations (CSOs) had vowed to resist the alleged planned increase  in pump price of petrol

    They made their position known in a statement jointly signed by the Convener, Dr Basil  Musa; and Co-Convener, Malam Haruna Maigida, in Abuja on behalf of others.

    They vowed to resist by picketing IPMAN members’ filling stations across the country.

    They accused the IPMAN of running a parallel government and inflicting pains on ordinary Nigerians by their unilateral adjustment of price of petroleum.

    They described the planned increment as unacceptable and called on the Federal Government to stop IPMAN from its alleged profiteering at the expense of ordinary Nigerians.

    The CSOs said the move was an economic sabotage, coming at a time Nigerians are still trying to come out of the “price shock”, occasioned by the increment on May 29.