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We can’t sell gasoline for less than N180 per liter—IPMAN

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Monday was one of the strangest days in Lagos, as many people spent hours waiting in lines at gas stations in different parts of the state.

This was because there wasn’t enough Premium Motor Spirit (PMS), also known as gasoline, which hurt businesses that use it for power because the electricity supply in the country isn’t always reliable.

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) said that its members had decided to go on strike because of fears that the lack of gas was caused by their work.

Akin Akinrinade, who is the Lagos Zonal Chairman of IPMAN, talked to Channels Television about why there was a shortage of fuel.

“Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have closed their gas stations, but not because we are on strike; we are not on strike,” he said.

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“Instead, the business environment has been so bad for us that we can’t do business here anymore.” You pay N162 per liter of gasoline when you fill up.”

“Now you have to add the cost of transportation, which ranges from N6 to N8 depending on how far you have to go within Lagos,” he said. “It’s much more than that if it’s outside of Lagos.

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“So, if you add N8 to N162, you already have N170, and the government, which is the regulator, wants us to sell at N165; we haven’t even added the fees at the depot and the costs of running our stations.”

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“You know what diesel is now, and you know how unreliable the power supply is. We use a generator that runs on diesel, which costs N800 per liter. In Lagos, no station uses less than 50 litres of diesel per day.

So, our members can’t sell petrol for N165 per liter anymore. In fact, no reasonable person in this business can sell for less than N180 per liter, so it’s not like we’re on strike, he said.

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