Connect with us

News

Petrol may cost more in South-East —IPMAN

Published

on

Punch Newspapers – The most widely read newspaper in Nigeria logo

The Independent Petroleum Marketers Association of Nigeria, Enugu depot, has warned that petrol may cost more in the South-East.

It said this is because the Federal Government failed to reactivate the Emene depot.

The Chairman of Enugu depot of the association, Mr Chinedu Anyaso, disclosed this in an interview with newsmen in Awka on Friday.

Anyaso said that petrol might be sold for N170 in the South-East because of the cost of delivering the products at the stations in the zone.

Anyaso said that the depot had been lying moribund since 2005.

He was reacting to the increase in the pump price of petrol and the challenges faced by marketers in the zone.

He said the depot was strategic to the national economy, adding that it was serving Anambra, Ebonyi, Enugu, parts of Imo, Abia, Cross River and North-Central, including Benue State.

The IPMAN chief described the cost of transporting products from Lagos, Warri, Benin, Calabar and other locations as huge.

According to him, marketers do not get their equalisation fund as and when due.

He said that marketers in the zone were incurring huge losses due to incessant road crashes and spill involving their trucks as a result of the poor state of the roads.

“We want to use this opportunity to renew our appeal to the federal government to repair the Emene depot in Enugu so that our members can start loading products from here.

“This depot has been shut down for over 15 years due to what they called pipeline vandalism.

“Our members are suffering and the people of the South-East and other areas that source products from the depot are suffering.

“For instance, the ex-depot price has been increased to N151.56, we will have to pay additional N14 for transportation and other expenses per litre depending on where we loaded before it is discharged in our stations.

“That will not be the case, if the product is pumped to the depot in Enugu and lifted from there, it will be much cheaper for us and enable us to sell between N160 and N162 per litre.

“We are ready to work with the Nigerian National Petroleum Corporation on the security of pipelines. And fixing the Enugu Depot will also help a better-deregulated sector, which the federal government is pursuing,” Anyaso said.

He called on members of the association in the zone to continue to provide quality services to the people to the best of their ability.

(NAN)

Why Investors will buy Fidelity Banks Offers, by Capital Market Stakeholders
Business19 hours ago

Why Investors will buy Fidelity Banks Offers, by Capital Market Stakeholders

GTCO Recognised As Nigeria’s Strongest Banking Brand
Business2 days ago

GTCO Recognised As Nigeria’s Strongest Banking Brand

Union Bank Advocates for Environmental Restoration; Commemorates World Environment Day
Business1 week ago

Union Bank Advocates for Environmental Restoration; Commemorates World Environment Day

FiBOP Partners with Fidelity Bank and CRC Credit Bureau to Educate Students on Financial Literacy
Business1 week ago

FiBOP Partners with Fidelity Bank and CRC Credit Bureau to Educate Students on Financial Literacy

Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA…
Business1 week ago

Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA…

Fidelity Bank started recapitalization before the CBN made it mandatory - Amuchie
Business1 week ago

Fidelity Bank started recapitalization before the CBN made it mandatory – Amuchie

Guaranty Trust HoldCo proposes N500bn share offering.
Business1 week ago

Guaranty Trust HoldCo proposes N500bn share offering.

Wema Bank concludes 1st tranche of capital raise programme
Business2 weeks ago

Wema Bank concludes 1st tranche of capital raise programme

Dangote Refinery plans to establish a terminal in the Caribbean for petroleum product exports.
News2 weeks ago

Dangote Refinery plans to establish a terminal in the Caribbean for petroleum product exports.

Photos: Dr. Bldr. Abdulhakeem Odegade, Akmodel Group MD, Reuben Abati, Dele Momodu, Others Receives Award At South-West Investment Summit
Press Release2 weeks ago

Photos: Dr. Bldr. Abdulhakeem Odegade, Akmodel Group MD, Reuben Abati, Dele Momodu, Others Receives Award At South-West Investment Summit

Zenith Bank confirms Sirika's daughter owns a company related to the N1.4 billion aviation contract.
Business2 weeks ago

Zenith Bank confirms Sirika’s daughter owns a company related to the N1.4 billion aviation contract.

Akmodel Group MD, Dr. Abdulhakeem Odegade, Shares Heartfelt Democracy Day Message with Nigerians
Press Release2 weeks ago

Akmodel Group MD, Dr. Abdulhakeem Odegade, Shares Heartfelt Democracy Day Message with Nigerians

Fidelity Bank dominates trading as equities gain N324 billion.
Business2 weeks ago

Fidelity Bank dominates trading as equities gain N324 billion.

FIDELITY BANK PLC UNDERTAKES A ₦29.6BN RIGHTS ISSUE AND ₦97.5BN PUBLIC OFFER
Business3 weeks ago

FIDELITY BANK PLC UNDERTAKES A ₦29.6BN RIGHTS ISSUE AND ₦97.5BN PUBLIC OFFER

Wema Bank concludes 1st tranche of capital raise programme
Business3 weeks ago

Agusto & Co. upgrades Wema Bank Plc to “Bbb+”

Copyright © FastNews Nigeria