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Videos * Home * 2023 Elections * News * Metro Plus * Investigations * Videos * Politics * Business * HealthWise * Editorial * Columns * Podcast * PUNCHNG MENU: * Video * Spice * Special Features * Education * Sex & Relationship * Interview * Columns * Opinion Breaking News Ogun workers suspend strike after four days Read More FUEL PRICE TO SKYROCKET AS MARKETERS THREATEN SHUTDOWN 8th February 2023 By Okechukwu Nnodim Kindly share this story: * * * * * * The queues for Premium Motor Spirit, popularly called petrol, grew worse on Tuesday following an earlier directive to shut down filling stations by the Independent Petroleum Marketers Association of Nigeria. Although the directive was later withdrawn, it was observed that the order triggered fuel queues in many parts of Abuja and neighbouring states, as hundreds of motorists besieged the few outlets that dispensed petrol, which were operated by major marketers. Our correspondent observed that heavy queues resurfaced at the two Nigerian National Petroleum Company Limited filling stations on the Gwarimpa end of the Kubwa-Zuba Expressway on Tuesday evening in Abuja. Similarly, there was massive queues by motorists at the Shema filling station on the same road, while the outlets of many independent marketers in Abuja and neighbouring Nasarawa and Niger states were shut. Powered By 10 How Lagos Hotel Owner Shot Us, Despite Paying Bill - Guests Share Next Stay Oil marketers confirmed that the queues were due to the confusion caused by the earlier directive to filling station operators by a branch of the Independent Petroleum Marketers Association of Nigeria. There was confusion on Tuesday as regards the directive by the Maiduguri Depot branch of IPMAN directing its members to shut down operations. IPMAN Chairman, Maiduguri Depot, Mohammed Kuluwu, had directed members to suspend all operations, in a statement he personally signed, but this was countered by the National Public Relations Officer, IPMAN, Chief Chinedu Ukadike, after marketers in other states started closing down their outlets. Ukadike said Kuluwu had been asked by the National Chairman, Debo Ahmed, to retract the statement, because IPMAN was interfacing with the Nigerian National Petroleum Company Limited and the Nigerian Midstream and Downstream Petroleum Regulatory Authority over the concerns raised in the statement. In the statement Kuluwu had directed marketers to also suspend the payment of ordering products from source until further notice, stressing that the decision was because IPMAN members were sourcing and selling products at a loss, as well as the action of the NMDPRA to impose a non-profitable cost price on marketers. Related News * Why fuel scarcity lingers - Mele Kyari * UPDATED: Fuel scarcity will reduce next week, Kyari assures Nigerians * Sanwo-Olu suspends campaign indefinitely over naira, fuel scarcity Sunday PUNCH had exclusively reported that IPMAN could shut down operations by Monday once the government enforced the N195/litre pump price for petrol on marketers. The report stated that Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, security agencies and the downstream regulator, had all agreed that petrol be sold at N195/litre. Oil marketers said the agreement was reached at a meeting in Abuja last week Tuesday, as participants resolved that beginning from Monday, February 6, 2023, the pump price of petrol should not exceed N195/litre, a development which dealers, particularly independent marketers, described as tough due to the high ex-depot price of the commodity. They had told our correspondent that to avoid having their outlets sanctioned, many filling stations operated by independent marketers could be shut from Monday as it made no business sense to sell a product lower than the cost price. But Ukadike stated on Tuesday that the move to shut down fillings would not hold due to discussions between IPMAN, NNPC, NMDPRA and other stakeholders. “We are aware of the notice by the Maiduguri Depot branch and the concerns by other members as regards pricing, but our National President, Debo Ahmed, has called the branches to order and asked them to step down the decision. “This is because IPMAN is interfacing with NNPC and NMDPRA on these issues and we hope that there’ll be good resolutions among all parties,” he stated. This came as the Federal Government warned of dire consequences for any individual or group of individuals who attempt to exploit or further cause untold hardship to Nigerians by disrupting the fuel supply and distribution chain across the country. Kindly share this story: * * * * * * All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. Contact: theeditor@punchng.com join our telegram No More 'Shebi' and 'But I wan' Play the US Powerball Jackpot and win big with $536,000,000. 🤩 Your dreams go dey reality today. Play now! 🚀 -------------------------------------------------------------------------------- URGENT NEWS: Nigerians can now earn in US Dollars from home, let’s show you how our client earned $13,000 (₦9,600,000.00) on a premium domain name within 2 weeks of acquisition. Click Here to start now! 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OSIMHEN BREAKS RONALDO’S SERIE A RECORD EARTHQUAKE: NIGERIAN STUDENTS IN TURKEY RECOUNT EXPERIENCES, FRESHERS UNDERGO TRAUMA TREATMENT NAIRA CRISIS MAY DISRUPT POLLS, INEC WARNS EMEFIELE, NSA OGUN, ONDO, EDO PROTESTERS STORM BANKS, DEMAND CASH FUEL PRICE TO SKYROCKET AS MARKETERS THREATEN SHUTDOWN VILLA DRAMA: CABAL PLOTS TO STOP TINUBU, APC CANDIDATE, GOVS ALLEGE SABOTAGE ICPC DISCOVERS N258M HIDDEN IN BANK’S VAULT, ARRESTS MANAGERS SANWO-OLU CONDOLES WITH FUNKE AKINDELE ON MOTHER'S DEATH * News * Sports * Metro Plus * Politics * Featured * Latest News * Business * Business & Economy * Opinion * Entertainment * Auto Famous * Auto Punch * Barka Da Sallah * Barrier Breakers * Breaking News * Brexit * Columns * Corona * Anti-corruption * Biafra * Boko Haram * Case Review * Court News * Court Trivia * Campus Champion * Celebrity * City round * Interview * Panorama * Opinion * Special Features * Spice * Technology * Famous Parent * Education * Cartoon * Columns * Diaspora * Advertise with us * Subscribe Subscribe * * * * * punchng.com © 1971- 2023 Punch Nigeria Limited * About us * Advertise with us * Contact We'd like to show you notifications for the latest news and updates. 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