Independent Petroleum Marketers Association of Nigeria says it is not possible for its members in the Eastern zone to sell Premium Motor Spirit, otherwise known as petrol, at N97 per litre.
The IPMAN acting Chairman in the zone, Mr. Chukwudi Ezinwa, who stated this in Calabar, Cross River State on Friday, noted that its members bought the product from private tank owners at N105.
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He said, “We cannot sell N97 per litre while we are buying at N105 from private tank owners. We pay transport and other loading expenses, the Federal Government is aware of this, and it is watching. So, N97 in the zone cannot work.”
The IPMAN chief, who said his members were at the mercy of the private depot owners, appealed to the Federal Government to put a check on the depot owners.
He added, “If we must actually do something right in this country, the government should start checkmating the private tank owners.
“We are going to meet with the government very soon, including the National Assembly on this to ensure that the proper thing is done.”
Noting that his colleagues were responsible citizens, Ezinwa said they could not hide what they did not have.
He stressed, “IPMAN does not own refineries or depots, so we cannot hoard products for Nigerians to suffer, because you cannot give what you do not have.”
He noted that the country presently has 21 oil depots but only three were working at below 50 per cent capacity even as the private depots were working at full capacity.
Meanwhile, the association has called for the involvement of state governments in the security of oil pipelines in the zone.