Marketers speak on releasing N150bn worth of petrol across filling stations

• IPMAN president has said implicit 1000 tankers determination petroleum products worthy N150 cardinal crossed the state connected a regular basis
• He said with specified investment, nary marketer would deliberately enactment his products connected the roadworthy without ensuring due information measures
• He disclosed this portion reacting to the caller tanker detonation incidental that claimed astir 108 lives successful Jigawa State

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Abubakar Shettima, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) said that much than 1000 tankers transport petroleum products valued astatine N150 cardinal each time passim the nation.

The IPMAN nationalist president explained that the worth of a petrol tanker unsocial is astir N100 million, Photo Credit: Contributor
Source: UGC

He claimed that nary marketer would purposefully enactment his goods connected the roadworthy without making definite they person the indispensable information precautions successful spot with specified an investment.

Shettima made this revelation to the New Telegraph in effect to the caller tanker detonation successful Jigawa State that killed astir 108 people.

In particular, the IPMAN nationalist president explained that the worth of a petrol tanker unsocial is astir N100 million, portion the petroleum products wrong the vessel are valued astatine N50 million, creating a full of N150 cardinal of petrol investments.

He called connected the Federal Government to fix pipelines truthful that products tin determination from 1 constituent of retention to another, saying that marketers took risks by investing heavy successful products and putting them connected the roadworthy to determination from 1 portion of the state to another.

He said that astir 1000 tankers plied the roads each day, indicating that N150 cardinal worthy of petroleum products are distributed nationwide connected a regular basis.

Shettima said,

“Normally if you look astatine our Nigerian roads, contempt the information that authorities has been trying its best, the unit connected the roads is inactive excessively much, due to the fact that immoderate bully you privation to transport you person to usage the roads.“So we are appealing, if it’s possible, fto each these pipelines from depots each implicit the state beryllium repaired truthful that they volition beryllium pushing these products to the nearest depots without plying the roads.

Filling stations clang petrol prices by N80

Legit.ng reported that lipid marketers have crashed petrol prices by N80 from N1,200 to N1,120 arsenic the product's landing outgo crashes.

Data from the Major Energies Marketers Association of Nigeria (MEMAN) shows substance landing outgo dropped to N939.86 connected November 1, 2024, from N981 per litre connected September 25, 2024.

According to the MEMAN information released connected Monday, November 4, 2024, the landing outgo of diesel, arsenic of November 1, 2024, stood astatine N1,048.88, portion aviation substance stood astatine N1,117.94.

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Source: Legit.ng