Why we are yet to achieve 100% compliance, by IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expalined why the queues at filling stations are yet to permanently end.

IPMAN’s National Operations Controller, Mr. Mike Osatuyi, told The Nation yesterday that while there had been improvement in the fuel situation, the desired level had not been attained because of the slight price variations across filling stations.

The controller said some members of the association who had bought the product at very high ex depot price had not completely exhausted their stock.

He said this was why they could not sell at the benchmark price given by government.

Osatuyi said majority of such marketers had complied with the regulated price regime because they had begun to get stock from depots at the official ex depot price of N172 per litre.

“Yes, I agree that we may not have attained 100 per cent compliance with the regulated pump price of petrol. But you can see that there is a remarkable difference.

“On daily basis, the pump price at IPMAN stations is coming down; at least you cannot see anyone selling at N350 a litre again. This is because the more the product is available at the official ex depot price to us, the more of our members getting at that price will comply.

“I can assure you that in no time, we will attain the 100 per cent compliance level, as long as every side keeps to the agreement on supply price,” Osatuyi said.

Also, the completion of repairs and subsequent opening of the pipelines at satellites depot in Ejigbo, Lagos State, after over 15 months of being moribund, has provided additional improvement in the loading of petrol.

(Nation)