Fuel scarcity in Lagos and other parts of the country has been explained by the Independent Petroleum Marketers Association of Nigeria (IPMAN).
IPMAN's Lagos Zonal Chairman, Akin Akinrinade, argued that they were not on strike in an interview with Channels Television.
The operational climate, according to Akinrinade, has turned hostile to their operations. He also denied that, contrary to popular belief, the marketers had gone on strike. "Members of the Independent Petroleum Marketers Association of Nigeria IPMAN have shut down their stations; we are not on strike."
Rather, the business environment has been very hostile to us such that we can no longer do business under this condition. For you to load a litre of petrol, you pay in N162 per litre,” he noted.
Akinrinade said that it was no longer feasible to sell the product at the recommended price of N165 to a litre, adding that the landing cost of petrol was between N175 to N178 naira to the litre. “Our members can no longer sell (petrol) at N165 per litre; in fact, there is no reasonable person in this business that can sell below N180 per litre, so it is not as if we are on strike,” he concluded.
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