Tag Archives: IPMAN

Fuel scarcity: NNPC starts direct supply to IPMAN.

The Nigerian National Petroleum Company Limited (NNPCL) has allocated petrol to marketers directly to ease scarcity.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) made the disclosure on Tuesday.

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The President, Chinedu Okoronkwo said the order was issued after a closed-door meeting of both parties.

It was agreed that IPMAN members should load petrol at NIPCO, MRS and other assigned depots.

The marketers were however encouraged to upgrade their POS to G4 or G5 for payment efficiency.

“Members without POS are also advised to acquire it for efficiency,” Okoronkwo told NAN in Lagos.

Okonkwo urged IPMAN divisions across the nation to open up their stations and start selling.



Lawal Sade, NNPCL Managing Director; Adeyemi Adetunji, VP Downstream; IPMAN BoT Chair, Abdulkardir Aminu, and exco members attended the meeting

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Fuel Scarcity: IPMAN dismisses report of nationwide shutdown of filling stations.

Independent Petroleum Marketers Association of Nigeria (IPMAN) has dismissed reports making the rounds that it had directed members to suspend operations across the country.

IPMAN President, Chinedu Okoronkwo, in a telephone conversation with 𝕹𝖔𝖇𝖑𝖊 𝕽𝖊𝖕𝖔𝖗𝖙𝖊𝖗𝖘’ known Media on Tuesday, dismissed the report as untrue.

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Similarly, IPMAN’s National Operations Controller, Mike Osatuyi, had in a statement in Lagos on Monday, said the insinuation that marketers planned to shutdown operations should be disregarded.

Osatuyi said Nigerian National Petroleum Company Ltd. (NNPCL) was preparing the logistics to start supplying petrol to IPMAN members directly.

However, an unverified statement dated 6 February, 2023 and signed by IPMAN Chairman, Maiduguri deport, Mohammed Kuluwu, has been making the rounds on the social media.

Kuluwu in the statement directed members to suspend all operations.

He also ordered marketers to suspend the payment of ordering products from source until further notice.

The statement reads: “Following the critical situation as it affects our sourcing and selling of product at lost (sic) and the action of the authority to impose the selling of product at a lost price (sic) on our side.



“You are all hereby directed to suspend selling at all filling stations and also suspend the payment of ordering products from source until further notice”.

IPMAN suggest investors run Nigerian refineries.

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Pasali, commending government’s efforts, said that IPMAN controlled 80 per cent of the downstream sectors.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to allow investors to take over the running of the country’s three refineries.

Alhaji Danladi Pasali, National Secretary of IPMAN, stated this in an interview with NoRM‘s known Media on Wednesday in Abuja.

He spoke while reacting to a report that the pump price of petrol might likely get to N190 per litre and the price of crude oil hit 60 dollars per barrel in the international market.

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Speaking at the official launch of Nigerian Upstream Cost Optimisation Programme in Abuja, Minister State for Petroleum Resources, Chief Timipre Sylva said with no provision of subsidy in the 2021 budget, the Nigerian National Petroleum Corporation, cannot continue to bear the cost of under-recovery.

At present, the pump price of petrol ranges from N160 –N165, the price band set when crude traded just above 43 dollars per barrel four months ago.

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Pasali, commending government’s efforts, said that IPMAN controlled 80 per cent of the downstream sectors.

“IPMAN controls 80 per cent of the downstream sectors of the industry and with our investments running into trillion, the government should give us the three refineries.

“We can run it successfully in collaboration with our foreign investors,” he said.

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Pasali said that allowing investors to take over would help in making the government’s job easy and improve the economic development.

He said increasing petrol price, for now, was not a good thing, as the economic index shows that the county was in economic hardship.

“The capacity of people buying the products is low now compared to before, for example, some people buy petrol of N1,500 for their cars but it was not like that in the past.”

Pasali also advised the government to call for stakeholders’ meeting to help solve the problem.

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“We can look at other means because there are so many things in the oil template, for example, to see how we can reduce the tension.

“There are so many charges in the template like the unnecessary marine charges that can be reduced and it can help reduce the tension, among other suggestions.”

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Nigeria: PMS marketers agree to sell at N123.50k / Litre.


The Independent Petroleum Marketers Association of Nigeria (IPMAN) said they have agreed to sell petrol for N123 in compliance with government directive.

“The National Executive Committee (NEC) of IPMAN once more commends the Federal Government of Nigeria for the further reduction of the pump price of PMS to between N123.50k and N125 per litre,” IPMAN president Sanusi Fari said in a statement.

Breaking: Fuel price deteriorate to N123.50k per litre from N125. (Nigeria)

“As law-abiding citizens, our members shall comply immediately.”

The government through the Petroleum Products Pricing and Regulatory Agency (PPPRA) on Wednesday reduced fuel price from N125 to N123.


PPPRA said the reduction in fuel price was necessitated by it’s monthly price modulation initiative.

IPMAN, however, disagreed with the government agency, saying it members will not comply and continue to run at a loss in sales.


The association also threatened to cease selling if government close down any petrol station in the country.

Retracting the earlier statement, IPMAN said they will sell for the new price “which will further lessen more burden on the masses.”


Fari said the previous reduction done by President Muhammadu Buhari in mid-March affected their members so much that they lost funds which did not go down well with members.

“Most members deal on borrowed funds from banks wuth Interests,” Fari said, “We had earlier pleaded then, that some time be given to us to exhaust the old stock which we did not get any response.”

Fari appealed to PPPRA and other relevant agencies to communicate with the association in future strategic decisions of such nature.


#Newsworthy…

N123.50k/ltr: Don’t Mind New Fuel Price – IPMAN tells Marketers. (Nigeria)


Following the reduction of pump price of petrol from N125 per litre to N123.50 per litre, the Independent Petroleum Marketers Association in Kano State has directed its members to ignore the directive on new price and sell the product at N125 per litre until their old stocks are exhausted.

IPMAN’s Chairman for Kano State, Alhaji Bashir Danmalam, who gave the directive while addressing a news conference in Kano on Wednesday, said members of the association would not comply with the new price regime until after they had sold all their old stocks.

The Petroleum Products Pricing Regulatory Agency had on Tuesday night announced the reduction of pump price from N125 per litre to 123.50 per litre.

According to Danmalam, the last time the Federal Government reduced the pump price of the product from N145 per litre to N125 per litre, its members nationwide lost over N5.5bn as a result of the sudden action.

“We called on government to compensate or support our members who incurred the huge losses due to the sudden reduction in fuel pump price but nothing was given to us.

“But to our surprise, the private depots owners were paid; none of our members was supported to reduce the losses they incurred. This time round, we will not sell our products at the new price until the old stocks are exhausted.”

He noted that IPMAN was the largest employer of labour besides the Federal Government, adding that members of the union would not continue to operate at a loss.

“Apart from the Federal Government, IPMAN is the largest employer of labour in the country and we cannot continue to support the government at this trying time while we are operating at a loss,” Danmalam said.

He accused the management of the PPPRA of trying to sabotage the Federal Government’s efforts to ensure sustained fuel supply and distribution across the country through some policies that could plunge the sector into a serious crisis.

“Even though we are happy with the new development and the Federal Government should be commended for the gesture, the government should consider the fact that no sane marketer or businessman will continue operating their business at a loss.

“Before the last announcement, many of our members had already bought and loaded their vehicles with the product at old prices from Lagos, Port Harcourt and Warri and we spent five to seven days before reaching our destinations. So we are not going to sell the product at the new price until we sell the old stocks.”

He said the union would not hesitate to ask its members to withdraw their services should any filling station of their members be closed for not selling at the new pump price of N123.50 per litre.


Compliance low as monthly petrol price review begins


The compliance by filling stations in Abuja and surrounding Niger and Nasarawa states to the new N123.5/litre pump price of petrol was low on Wednesday.

It was also gathered that the monthly price modulation exercise for petrol had effectively commenced after the Federal Government declared N123.5/litre as the cost of petrol price for April.

Although some of the filling stations were not open for business when our correspondent visited the outlets on Wednesday morning, officials at the few ones that dispensed products claimed not to be aware of the new petrol price.

Some others stated that the information had yet to fully circulate to marketers, adding that dealers of petroleum products would comply when adequately briefed.

A popular private filling station on Kubwa Market road, Nipco filling station on Zuba-Kubwa road, Abuja, and two others in Zuba, Niger State, dispensed petrol at the old N125/litre price.

The NNPC filling station on Zuba-Kubwa road had yet to start dispensing when our correspondent visited the outlet due to the very limited vehicular movement in Abuja occasioned by the lockdown.


#Newsworthy…