The Nation Newspaper

Tag: Alhaji Abubakar Maigandi

  • Why petrol is scarce – IPMAN

    Why petrol is scarce – IPMAN

    The Independent Petroleum Marketers Association of Nigeria ( IPMAN ) Tuesday opened up on the true cause of the fresh scarcity of the Premium Motor Spirit (PMS) in some parts of the country.

    According to its National Vice President, Alhaji Abubakar Maigandi, who spoke with The Nation on phone said that the Nigerian National Petroleum Corporation (NNPC), said that the corporation was delaying loading the of independent marketers trucks at its depots.

    He added that the private depots that were opened to the independent marketers were selling above the official price.

    His words: “In the NNPC there serious delay in loading. Then the private depots are selling above the government stipulated rate. This has stopped most of the independent marketers not to buy it. They are selling between N141 to N145 per liter in the depots in Lagos, Port Harcourt, Calabar and Warri. This is why we are having serious challenges. If care is not taken there will be serious scarcity. Government needs to quickly intervene for the sake of the people.”

    Petrol has been scarce in the Federal Capital Territory (FCT) as most of the petrol stations are under lock and key.

    The corporation’s Group General Manager, Group Public Affairs Division, Mr.  Ndu Ughamadu has issued a statement that there is sufficient petrol and that there is no plan to hike the pump price.

  • Petrol prices to dip as Nigeria exit recession – IPMAN

    Petrol prices to dip as Nigeria exit recession – IPMAN

    The Independent Petroleum Marketers Association of Nigeria (IPMAN), Vice National President, Alhaji Abubakar Maigandi Monday forecast that following the nation’s exit from recession, the prices of the Premium Motor Spirit (PMS) also known as petrol will dip further very soon.

    Speaking with The Nation on phone, he said that the economy will now improve for more people to buy and drive more car, which is bound to increase the turnover of some of the petrol stations and further attract more marketers to supply more and drag down the prices of petrol.

    His words: “Now that Nigeria is out of recession, more people will be able to buy cars and demand for petrol to drive them. The demand will attract petrol marketers to supply to a glut level that will further dip the pump prices.”

    The forces of demand and supply and their inherent competition have already crashed the pump prices to N139 per litre in A.A. Rano on Kubwa expressway, Abuja, N140 per litre in Shema on the same road while other marketers sell for N142.

    All the Nigerian National Petroleum Corporation (NNPC) affiliate stations have however pegged their prices at N143 per liter while other major marketers as Total and others still sell at the maximum band of N145 per liter.

    Customers have apparently abandoned those selling for N145 per litre to a matter of last alternative, especially for visitors and taxis that run out of fuel completely.

    Maigandi commended the federal government on the provision of an enabling environment that led to the interplay of the market fundamentals that crashed the pump prices.

    He also commended the government on the policies that have culminated in easy access to the petrol, adding that “it is no longer difficult to get it in any filling station.”

    Maigandi noted that selling above pump price has suddenly become history as customers no longer buy from such marketers.

    He however had his reservation concerning the manner that the NNPC market kerosene and diesel, saying that their sales are still characterized by corrupt practices.

    According to him, marketers cannot access the products without going through the middlemen that cut corners in the depots across the country.

    He lamented that the Petroleum Equalization Fund (PEF) is still owing the marketers billions of Naira as cost of bridging different products.

  • IPMAN urges EFCC to curb corruption in refineries, depots

    IPMAN urges EFCC to curb corruption in refineries, depots

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday urged the Economic and Financial Crimes Commission (EFCC) to curb corruption in the sale of petroleum products in the refineries and depots across the country.

    Speaking with The Nation on phone, the IPMAN National Vice President, Alhaji Abubakar Maigandi explained that sharp practices in the allocation and loading of the products was still a major threat to the free flow of fuel that this administration advocates.

    He said that “you know up till now there is corruption in those NNPC depots, you have to give them money before you load in any of them Warri, Port Harcourt and Kaduna. All the three refineries.”

    The IPMAN National Vice President, who commended the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru on his recent visit to the EFCC, asked him to take advantage of the relationship to tackle the corruption menace in the oil downstream industry.

    He, however, explained that only NNPC is importing products and it sells them at a lower rate than the independent marketers, which is accountable for the price disparity.

    He added that some independent marketers have however followed suit to lower their pump prices because they seek high turnover. The situation, he said has made the market highly competitive to the benefit of the consumers.

    He noted that marketers were not accessing kerosene directly from NNPC, stressing that the middlemen are responsible for the additional cost in securing the kerosene.

    His words: “The managing director, the other time visited Magu. So, all what they have said is good, if they can go and do it in the right way,  definitely the Kerosene price will crash. Now only NNPC is bringing kerosene because there is a subsidy, so that subsidy because the  NNPC is bringing their own, they sell it at a lower rate to the marketers.

    “So, marketers are not able to import it because of the rate NNPC is selling because they produce, so they sell it at a lower rate.

    They are selling at a lower rate but when marketers come, it will become at a higher rate. So that is the major problem that we are having now, the government is giving it at a lower rate but the marketers can not get it at that rate.

    “Another unnecessary cost, which is not going to the government’s pocket, if the marketers were getting it direct, the way government said they should sell, then definitely by now the kerosene will not pass N150 or 160 highest, in the filling station.

    “Let Magu work with that the Managing Director, since he has gone there to meet him to assist him, let him assist him to eradicate the corruption.”

  • IPMAN commends FG on new price of petrol

    IPMAN commends FG on new price of petrol

    Alhaji Abubakar Maigandi, the Vice President, Independent Marketers Association of Nigeria (IPMAN), has commended the Federal Government on the new pump price of petrol.

    Maigandi told the News Agency of Nigeria (NAN) on Wednesday in Abuja that the decision would help to put to an end the persistent petrol scarcity in the country.

    “This is a good development; the best that will happen is complete removal of the subsidy.

    “The price they put is a good one, but the best thing is to leave the market open so that people will decide what they want to sell after importation,” he said.

    He assured that the products would be available with this development, adding that the association was ready to continue to support government’s effort.

    NAN reports that the Petroleum products Pricing Regulatory Agency (PPPRA) has announced a new pump price of N145 per litre for petrol.

    A statement signed by Mrs Sotonye Iyoyo, the Acting Executive Secretary of PPPRA, said that the new price would take immediate effect

    “In furtherance of its mandate to ensure the efficient supply and distribution of petroleum products, PPPRA hereby announces, effective immediately, that the new price band for PMS shall be at a maximum of N145 per litre.

    “However, NNPC retail stations on the outskirts of major cities are advised to sell at price lower than N145 per litre,” it said.

    The statement said that the review became imperative in the face of extreme difficulties faced by petroleum product Importers in sourcing foreign exchange.

    This, it added, had made it difficult to meet the consumption demand of the nation.

    “Importers will henceforth be permitted to source for their foreign exchange requirements from the secondary sources.

    “PPPRA is conscious of the difficulties that Nigerians have been going through in the last few months.

    “To ameliorate this situation, we shall continue to modulate pricing in accordance with prevailing market dynamics thereby ensuring fair value to all citizens,” it said.