IPMAN Says Members Are Selling Filling Station Due To Low Petrol Patronage
Independent Petroleum Products Marketing Association of Nigeria (IPMAN) has said some of its members have started putting their filling station up for sale.
He attributed the decision to the low sales being recorded by filling station since the removal of subsidy from petrol.
IPMAN national president, Chinedu Okonkwo, made this known while appearing before the ad hoc committee of the House of Representatives investigating the recent hike in the pump price of petrol.
Okonkwo said hundreds of members are putting their filling station up for sale, citing the situation in Ibadan, where over 40 filling station of IPMAN members are looking for buyers.
He explained that most of the filling stations which often sell a truck within three days before the petrol subsidy removal, now sell the same quantity throughout month.
The IPMAN president asks federal government to expedite action on setting up necessary structures to encourage the use of compressed natural gas as an alternative fuel.
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According to him, Nigeria should utilise the abundant gas which is being flared annually as a viable alternative energy source to fuel vehicles.
Earlier in his remark, Chairman of the Ad-hoc Committee, Babajimi Benson said, the Ad-hoc Committee was set up to investigate the circumstances surrounding the increase of the pump price from N537 to N617.
“Petroleum is unarguably the lifeline of the Nigerian economy and any increase in its price will undoubtedly result in ripple effect on price of goods and services especially food stuff.
“Statistics show that Nigerians spend an average of 80% of their incomes on food alone. This is why we fear that this recent increase will further push Nigerians deeper below the poverty line.
This committee is confident that government mean well for Nigerians and have its justification for this action. This is what we want to hear at this investigative hearing. Nigerians need to understand the rationale behind this action,” he said.
