Oil marketers still sell at N170 per litre — Investigation


Petrol price cut: Oil marketers still sell at N170 per litre — Investigation

As MOMAN, IPMAN say they were not carried along

By Udeme Akpan & Ediri Ejoh

Barely a week after the Federal Government had slashed the price of petrol from N170 to N162.44 per litre, oil marketers continue to sell the product at N170, according to Vanguard investigation.

The investigation showed that the oil marketers, especially members of the Independent Marketers Association of Nigeria, IPMAN, and Major Oil Marketers Association of Nigeria, MOMAN, still sell the product at N170 per litre in many parts of Nigeria.

The marketers argued that they were not officially aware of any reduction, stressing that they were never carried along on the matter.

In an interview with Vanguard, weekend, Chairman of MOMAN, who also doubles as Managing Director, 11 Plc, Mr. Adetunji Oyebanji, said the ‘planned reduction’ was not in the best interest of the downstream sector.

According to him, “We are completely in the dark as to how the price was arrived at, what the components are and…

Source: Vanguard Newspaper