July 8, 2022

As the scarcity of petrol continues to linger in Lagos, the Independent Petroleum Marketers Association of Nigeria (IPMAN), says the Pipelines and Product Marketing Company (PPMC) is yet to supply products to the Ejigbo depot.

Mr Akeem Balogun, Secretary, IPMAN, Lagos Satellite Depot, Ejigbo, made the disclosure in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had in a recent meeting with independent marketers from South West Zone directed them to revert to the approved N165 pump price for petrol.

However, Balogun said the decision to revert to the regulated price for petrol, also known as Premium Motor Spirit (PMS), depends on if and when marketers are able to buy products at the approved ex-depot price.

“We are still waiting for the PPMC to supply products to our depot so that we can buy at the controlled price and can also sell at N165 per litre at our retail outlets,” he said.

Investigations by NAN revealed on Friday that the private depot owners were still selling PMS to marketers at about N162 per litre instead of the approved N148.17.

Majority of the filling stations owned by independent marketers were selling petrol from between N180 to N195 per litre depending on the location. (NAN)