Palpable fears hanging on fuel scarcity emerged Thursday as the leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Kwara State chapter gave the government a seven-day ultimatum to address challenges confronting operators in the oil sector in the state or face industrial action.
According to the State IPMAN Chairman, Mr. Olanrewaju Okanlawon, if the alleged anomalies were not addressed within seven days, members of IPMAN in the state would suspend the sale of petroleum products to members of the public.
Explaining issues in Ilorin after a meeting with his group, Okanlawon alleged that IPMAN members were being forced to buy the Premium Motor Spirit (petrol) from private depots at N141 per litre as against the Federal Government’s ex-depot rate of N133.
He added that going by the development, the business is no more meaningful as the cost of the product was N148 per litre, excluding staff salaries, other operational costs and bank charges on loans.
He said his members cannot continue to lift and sell at a huge loss, noting that many of them had become bankrupt.
