The Independent Petroleum Marketers Association of Nigeria (IPMAN) has dismissed reports suggesting that petrol sales in the country may be halted, describing the claim as false and a misrepresentation of facts.
The Financial Secretary of IPMAN, Musa Yahaya Mai Kifi, clarified the position in an interview, stating that the interpretation circulating in some reports did not reflect the realities of the downstream petroleum sector.
“The claim that petrol sales will stop is not true, that is not an accurate interpretation of what was said.
We have moved beyond a system where the government fixes petrol prices,” he said.
Mai Kifi explained that the current deregulated framework allows marketers to source petroleum products globally and distribute them within Nigeria or export them to other markets, citing ongoing exports of refined products as an example.
He also proposed a structured pricing arrangement between crude suppliers and refineries to stabilise the supply chain, particularly in relation to crude supply to the Dangote Refinery.
“If Dangote is to receive Nigeria’s crude oil, there should be an agreement.
If we supply the crude at a certain price, Dangote should sell refined products at an agreed price, and marketers who buy from the refinery should also sell at an agreed price,” he said.
The IPMAN official maintained that such coordination is necessary to ensure stability across the value chain.
Meanwhile, IPMAN National Publicity Secretary, Chinedu Ukadike, also rejected claims that marketers were profiteering, saying many operators are already struggling with losses due to frequent fuel price reductions.
He warned that any attempt to impose pump prices in a deregulated market would be resisted by operators in the sector.
