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IPMAN blames panic buying, hoarding for fuel scarcity

The long queues for petrol in some major cities 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. 

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Speaking after a brief meeting with official of the Nigeria National Petroleum Corporation (NNPC) yesterday, IPMAN officials led by the National Secretary, Alhaji Danladi Pasali said some depots owners were taking advantage of increase demand for fuel during the festive period to create artificial scarcity. 

IPMAN commended efforts by the NNPC GMD, Dr Maikanti Baru and the Managing Director of the Nigerian Petroleum Marketing Company, Alhaji Umar Ajiya in restoring sanity in the system.

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“We are calling on all our members that engage in sharp practices to desist in the interest of the masses and country at large,” Pasali said.  

He urged the DPR and other regulators in the petroleum downstream sector to exercise their civic responsibility by increasing supervision on marketers at all levels. 

 


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