IPMAN Sets Monday Target For Petrol To Sell At 935 Per Litre Nationwide

  The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that the pump price of petrol will drop to ₦935 per litre nationwide starting Monday. This announcement was made by IPMAN’s National President, Alhaji Maigandi Garima, on Sunday in Abuja. He commended Dangote Refinery for facilitating the new pricing structure aimed at reducing transportation … Read more

BREAKING: Dangote Refinery To Begin Sale Of Diesel To Marketers

Africa's Biggest Refinery

Dangote Petroleum Refinery to initiate diesel sales to marketers today Minimum quota set at one million liters of Automotive Gas Oil (AGO) per marketer Refinery’s move expected to impact diesel market dynamics EKO HOT BLOG reports that the Dangote Petroleum Refinery is reportedly poised to begin the sale of diesel to marketers starting today, Tuesday, April … Read more

‘We Are Not Selling Dollars To Nigerians Today’ – BDC Operators Shut Down Market Over Forex Scacity

Exchange rate

EKO HOT BLOG reports that the Association of Bureau De Change (BDC) Operators has reportedly decided that members will not open the market for transactions today, 1st February 2024. This online meia platform understands the operators have agreed not to sell US Dollars to customers due to the continued slide in the value of the naira … Read more

P’Harcourt Refinery Conducts Test-Run Amid Fuel Price Hike Projections By Marketers

Port Hacourt Refinery

EKO HOT BLOG reports that during a briefing in Abuja on Wednesday, the Federal Government clarified that the Port Harcourt Refining Company is currently undergoing test-runs, with plans for the refined petroleum products to enter the market soon. The announcement comes amidst concerns from oil marketers regarding the potential impact of the recent depreciation of the … Read more

Fuel Scarcity: Filling Stations Ration PMS As Marketers Shun Importation

Fuel

EKO HOT BLOG reports that most filling stations across Nigeria are currently rationing petrol due to the refusal of fuel marketers to import the product. This is despite the recent deregulation of the downstream oil sector, which was supposed to allow private marketers to import and sell petrol. EDITOR’S PICKS ‘We Will Hand Over Power … Read more

Petrol Would Become N700/Ltr In Coming Days – Marketers Tell Nigerians

Petrol marketers

  EKO HOT BLOG reports that a marketers have warned Nigerians to prepare to buy petrol for as much as N700/litre in the coming days. This development follows the sudden petrol hike from N540 to N617 per litre on Tuesday by the Nigerian National Petroleum Company (NNPC) Limited. EDITOR’S PICKS Delta Community Imposes N10,000 Fine, … Read more

IPMAN Suspends Planned Strike Amid Persistent Fuel Scarcity

Nigerians have had a tough time buying fuel for several months. IPMAN, a group of petroleum marketers, has complained that its members are not getting enough supply. The situation forced the association’s chapter in Borno to halt all operations earlier on Tuesday. Eko Hot Blog reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN), … Read more

Why Fuel Scarcity Has Persisted – IPMAN

Nigerians have been struggling to buy fuel since late 2022. The scarcity has prompted marketers who have the products to sell at high prices. The marketers have argued that there’s a shortage of supply to them. Eko Hot Blog reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the petrol supply … Read more

Marketers Shuns FG, Sell Petrol At N185/ Litre In Abuja

Marketers sell petrol at N185/litre in Abuja …..urged the National Assembly to immediately enact a Bill for the establishment of Energy Bank for easy transaction in petroleum products in the sector EDITOR’S PICK BREAKING: Gunmen Attack Residence Of LP Guber Candidate, Lasun [PHOTO] JUST IN: Tragedy As Heavy Flood Sweeps Lexus Jeep, 4 Occupants Away … Read more

Scarcity: Marketers Plan Strike As Fuel Sells 175/litre, Queues Worsen

Marketers Plan Strike
  • Marketers Plan Strike As Fuel Sells 175/litre, Queues Worsen

  • Some outlets in Lagos that sold the commodity at N169/litre last week had to adjust their pumps on Wednesday, as they dispensed PMS to motorists at N175/litre

EDITOR’S PICK: 

EKO HOT BLOG reports that some filling stations on Wednesday dispensed Premium Motor Spirit, popularly called petrol, at over N175/litre, higher than the government-approved N165/litre price, as oil marketers insisted to embark on strike from next week if the government fails to pay them (marketers).

It was gathered that some outlets in Lagos that sold the commodity at N169/litre last week had to adjust their pumps on Wednesday, as they dispensed PMS to motorists at N175/litre.

Also, queues by motorists at filling stations, which had persisted in Abuja and environs since February this year, gradually resurfaced in parts of Lagos on Wednesday.

It was observed that many filling stations, particularly those belonging to members of the Independent Petroleum Marketers Association of Nigeria, were shut due to a lack of products to sell to customers.

Gegu Oil, Eterna and Oando filling stations at the Dutse end of the Kubwa-Zuba Expressway in Abuja, for instance, had remained shut for days for lack of products to sell, despite the heavy queues of motorists in a nearby NNPC retail outlet.

Amidst these concerns, oil marketers under the aegis of Abuja-Suleja IPMAN, stated on Wednesday that their proposed strike would go ahead next week if the government fails to substantially clear the bridging claims for transportation of petrol being owed marketers.

Last week, oil marketers warned that Nigeria could witness “the mother of all queues” soon if the Federal Government fails to pay the 12 months bridging claims being owed operators in the downstream oil sector.

They had also denied being paid N74bn by the Federal Government as bridging claims for the transportation of petroleum products.

The Federal Government through its Nigeria Midstream and Downstream Petroleum Regulatory Authority had said last week that it paid N74bn as bridging claims to oil marketers for the transportation of petroleum products across the country in seven months.

But the Secretary, Abuja-Suleja IPMAN, Mohammed Shuaibu, whose unit covers Abuja, Kogi, Niger and parts of Nasarawa and Kaduna, told a correspondent from Punch Newspapers on Wednesday that though some members had confirmed the receipt of payments, a host of others had yet to receive theirs.

“Few of our members have confirmed receiving alerts, but the majority have not been paid and so the decision to embark on the mother of all strike still stands, except we get our payments,” he stated.

Shuaibu added, “Many independent marketers are closing shop and because of these debts. We cannot continue to fold our hands. We are sorry about the hardship, but the government has to pay us, otherwise we will withdraw our services.”

FURTHER READING: 

Reacting to the concerns, the spokesperson, NMDPRA, Kimchi Apollo said that the petrol price had not changed from the approved N165/litre price, as he also stated that efforts were on to settle to bridging claims being owed the marketers.

Click to watch our video of the week

Marketers Deny FG’s N74bn Payment, Warns Nigerians Of Massive Fuel Scarcity

Marketers Deny FG's N74bn Payment

Marketers Deny FG’s N74bn Payment, Warns Nigerians Of Massive Fuel Scarcity According to the report, the sum of N71,233,712,991 bridging claims and another N2,736,179,950.84 freight differentials was paid to marketers as of June 6, 2022 EDITOR’S PICK:  Police Recover Unexploded IEDs At Owo Church Owo Church Attack “Targeted At Turning Yorubaland Into A War Zone” … Read more

Price of 12.5kg Cooking Gas May Rise To N10,000, Say Marketers

Cooking Gas, Cooking Gas Price Jumps By 100% As FG Double Tax On Commodity

Marketers have said that the price of 12.5kg cooking gas may rise to N10,000. EKOHOTBLOG reports that the marketers of Liquefied Petroleum Gas, well known as cooking gas, have cautioned Nigerians that the price of the product may increase to N10,000 by December 2021.   The Executive Secretary of the National Association of LPG Marketers, Mr Bassey Essien, gave the warning … Read more

Opinion: The Weakness of Cramming

Cramming can be defined as the process of absorbing data in an effect to disseminate the information without really internalizing its meaning and knowledge. I crammed most of the multiplication table in primary school because I disliked arithmetic and often wished it could be taken out of our subjects, however my wish didn’t come to … Read more

Vacancy!!! Marketers at Floor Nigeria

Floor Nigeria is the number one flooring solution company in Nigeria that deals in all kinds of flooring types such as laminate floor, vinyl floor, epoxy floor, carpet tile, rubber tile, artificial grass and SPC floor for gym areas and high traffic areas. We specialize in the installation and maintenance of floors as well. We … Read more