MARKET UPDATE
Advertisement Topt

TheCable

IPMAN to NMDPRA: Address indiscriminate pricing, diversion of petrol

IPMAN to NMDPRA: Address indiscriminate pricing, diversion of petrol
May 10
19:50 2024

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to address the issues of diversion and indiscriminate pricing of petrol.

Robert Obi, IPMAN chairman, Calabar unit, made the request on Friday at a meeting with Comfort Ajayi, the new south-south regional coordinator of NMDPRA.

According to NAN, Obi said key government regulators in the industry had refused to play their respective roles in the light of the current petrol scarcity.

“What we have seen is a conspiracy of silence. We expected more from NMDPRA to checkmate the issues of diversion and indiscriminate pricing,” he said.

Advertisement

“After lifting petrol from NNPC, private deport operators make it difficult for independent marketers to access the products.

“The business environment is no longer conducive for us as independent marketers. We are witnessing unavailability of products.”

Obi asked NMDPRA and other regulatory agencies to guarantee sincere and effective regulation of the sector for products to be available to marketers.

Advertisement

He urged the Nigerian National Petroleum Company (NNPC) not to give petroleum products to private tank farms when most of its outlets do not have petrol.

”Whenever products are brought into the region, some percentage should be allocated to the catchment areas of Cross River and Akwa Ibom States,” he said.

Obi said IPMAN is ready to collaborate harmoniously with the new leadership of NMDPRA in the region.

Also, he requested more time to enable members of the association to renew their licences.

Advertisement

In her response, Ajayi commended members of the association for their conduct following the current petrol scarcity in Cross River.

She said the authority is dedicated to collaborating with IPMAN to address the causes of the petrol supply and pricing challenges in the state.

”As a body, NMDPRA is willing to collaborate with you and other stakeholders to address the gaps noticed in the supply chain of petroleum products in the state,” Ajayi said.

”This meeting is timely, we have used it to get familiarised, we have listened to your challenges, we shall seek lasting solutions to them.

Advertisement

”Concerted efforts will be made to ensure the availability of products to independent marketers in the state at the approved rates.”

Ajayi said NMDPRA has instructed depot owners to always display the prices of products to ensure transparency in the system.

Advertisement

”You are at liberty to avail us with credible information concerning the activities of private depots to enable us to act swiftly,” she said.

Ajayi told IPMAN to always renew their operating licences, saying it is unprofessional and unethical to operate without approvals.

Advertisement

”It is not good that only about 15 percent of your facilities are licenced, there is need for them to get licensed,” she said.

Ajayi urged oil marketers operating with expired licences to ensure they renew their licences as soon as possible.

Advertisement

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

Tags

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.