IPMAN Exposes Potential Increase in Petrol Pump Price Due to Sabotage by Tanker Drivers
Eventville’s investigation has uncovered a concerning issue that may lead to a surge in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. Marketers are facing what they label as “acts of sabotage” by haulage operators nationwide.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) brought to light that tanker drivers are imposing unauthorized fees on marketers, ranging from N50,000 to N100,000 per 33,000 liters of petrol.
Chinedu Okoronkwo, the National President of IPMAN, expressed deep concern over these arbitrary charges, which he considers illegal and a significant burden on the operational costs for their members.
To address the potential hike in petrol prices, IPMAN is urgently urging the Federal Government to intervene and put a stop to the Petroleum Tanker Drivers (PTD) from imposing these unlawful levies on its members.
During a recent meeting of IPMAN’s Central Working Committee in Abuja, Okoronkwo highlighted the severe implications of this issue and notified the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) about the ongoing sabotage by tanker drivers in the distribution of petroleum products.
Okoronkwo has pointed out that the PTD is considered the primary adversary of fuel subsidy removal and deregulation, as they are allegedly involved in sabotaging the distribution of PMS by charging IPMAN members for each truck loaded at the depot.
The president further lamented how these levies, varying depending on the loading depot, have significantly diminished the profit margin for IPMAN members. He revealed that loading and transporting a truckload of PMS, which used to cost around seven million naira, now exceeds 23 million naira due to subsidy removal.
IPMAN has been dealing with extortion by petroleum tanker drivers for a decade and has been advocating for a profit-oriented market. Unfortunately, their pleas have been ignored, leading to substantial financial losses for marketers.
Okoronkwo revealed instances where tanker drivers have extorted amounts up to N200,000 from IPMAN members, a problem that could have been resolved with subsidy removal.
He further explained that despite generating over 23 million naira from each truck of PMS, IPMAN members only make a meager profit of approximately 500,000 naira, which takes days or even weeks to sell. From this profit, marketers still have to cover additional logistics expenses, such as fuel for transportation and lighting at the stations, leaving them with just around 200,000 naira or slightly more.