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ENERGY

IPMAN Blames Panic Buying,  Hoarding For Fuel Scarcity 

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…Proffers solution 
 
BY CHIKA IZUORA, Lagos
The long queues for petrol in some major states in the country was partly due to panic buying and hoarding of products by some depots owners and marketers, the Independent Petroleum Marketers Association of Nigeria (IPMAN)  has said. 
Speaking after a brief meeting with NNPC official yesterday, IPMAN officials led by the National Secretary,  Alhaji Danladi Pasali said  despite the availability of the products in the country, some depots owners take advantage of  the high demand of fossil fuels during the  festive period to create artificial scarcity in order to dupe Nigerians. 
 
The association disclosed in a press statement signed by its National Secretary, Danladi Pasali. The IPMAN officials acknowledged the efforts of NNPC GMD,  Dr Maikanti Baru and the Managing Director of the  Nigerian Petroleum Marketing Company,  Alhaji Umar Ajiya for taking lead in restoring sanity into the system, more especially reviving the depots such in Ibaban and Ejigbo-satellite depot, at the same time acknowledged revival of Kaduna and Warri refineries to encourage smooth distribution of Petroleum products to other parts of the country. 
They also reminded the NNPC management of the hitches in the current distribution system which allows some depots owners to determine prices on products that belongs to NNPC. 
The IPMAN leaders assured NNPC of their readiness to assist in ensuring smooth distribution once the products is made available to them and at the affordable prices. 
We are calling all our members that engaged in sharp practices to desist in doing so in the interest of the masses and country at large.  
The IPMAN officials urged the DPR and  other regulators in the petroleum downstream sector to exercise their  civic responsibility by increasing their supervisory role on the marketers at all levels.


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