TheCable

Maikanti Baru, group managing director, Nigerian National Petroleum Corporation (NNPC), has urged the Independent Petroleum Marketers Association of Nigeria (IPMAN), not to embark on their proposed strike action.

Baru made the appeal during the commissioning of the NNPC Ultra-Mega Station in Shagamu, Ogun state.

The Lagos chapter of IPMAN had on Wednesday threatened to withdraw its services from December 11 over NNPC’s breach of bulk purchase agreement to sell fuel to them at N133.28k per litre.

The association had said it was set for a showdown with NNPC over irregular fuel supply at Ejigbo satellite depot.

Reacting, the GMD said this was not the right time for the independent marketers to embark on strike.

According to the GMD, as the sole importer of petroleum products, the corporation is distributing the products according to Petroleum Products Pricing Regulatory Agency (PPPRA) template of N131 per litre.

He said there was no reason for marketers to sell above the pump price of N145 per litre.

“If some marketers are selling above the approved PPPRA template at depots, we will leave it for relevant regulatory agencies to seal them up,” he said.

“They know the implication of going on strike now.

“I will advise them to report any member of Depot and Petroleum Products Marketers Association (DAPMAN) that sells at N141 per litre to relevant regulatory agencies to take action.”

He said the corporation had about 35 million litres of petrol for daily consumption and a reserve of over one billion litres for Christmas and New Year Celebration.

The GMD urged motorists against panic buying, adding that the corporation had supply that could last for over 30 days in stock.