TheCable

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied involvement in the diversion of petroleum products.

Chinedu Okoronkwo, president of IPMAN, made the remark before the house of representatives special ad hoc committee investigating the petroleum products subsidy regime in Nigeria from 2017 to 2021 in Abuja on Wednesday, according to NAN.

Okoronkwo said that such had been the usual allegation, adding that any marketer found guilty of the act should be treated as a criminal.

He accused some petrol depots of selling fuel at the rate of N158 naira per litre instead of the government-approved price of N148, adding that it was the cause of the hike in pump price.

He affirmed that the landing cost template of fuel had not changed contrary to insinuation.

Through petrol subsidy, the government fixed the price of petrol for consumers below the international price.

Last month, the southwest zone of IPMAN threatened to direct its members to sell petrol at N180 per litre.

Ahmed Wase, deputy Speaker of the house of representatives, disclosed that about N6 trillion was said to have been expended by government on oil subsidy in the time under review.

Wase, who represented Femi Gbajabiamila, speaker of the house of representatives, said that this necessitated the setting up of the committee to get to the root of the matter.

Ibrahim Aliyu, chairman of the committee, said their mandate was to get the actual record of all companies and individuals involved and determine the total litres of crude oil exported and petroleum products imported.

Aliyu, however, summoned the federal inland revenue service (FIRS), the managing director of AA Rano, to appear before the committee.

Other stakeholders present include oil marketers and representatives of the ministry of petroleum.