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Without subsidy Nigerians would have been paying N900 per litre of PMS, says IPMAN

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Without subsidy Nigerians would have been paying N900 per litre of PMS, says IPMAN

 

From John Danjuma

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended President Muhammadu Buhari for sustaining the subsidy on Premium Motor Spirit without which Nigerians would have been paying N850 to N900 per liter by now.

The National President Elder Chinedu Okoronkwo at a press conference in Abuja debunked the insinuation that its members were engaged in the sabotage of the effort by the Federal Government to subsidize the product with N4trillion.

“You are talking about sabotage I think that If there is anyone selling fuel on the road it is not IPMAN that you will take home today

“Let me tell you while we are still moving to check the cost if AGO that is not regulated how much are we picking it now? N850 to N900, that would have been the cost of PMS, and who enjoys this subsidy it is the man with his cars

“The only thing members of this association get is N10 we have been there fixated. For over N20 years each time they will be raising this product our margin has not been N10 that is why a lot of our people are not in business so if you are talking of sabotage is it from where.

“We are the worse beaten with huge investment and low return. We should be the ones to complain.

He asked Nigerians to stop panic buying the Premium Motor Spirit (PMS) as they will continue to sell the products at the government-approved price of N165 per liter.

“I told you the cost of doing business has changed and my members in Lagos before they did what they did, called me and told me that they are now getting this product at N162 to N165 per lite with transportation another N8, aggregating to about N170 to N173, even the N10 which supposed to be our own has been eroded, what do we do?

Read Also >> IPMAN Backtracks, Says Members Will Sell PMS At N165 Per Litre

“Now you know and I know that it is only NNPC that imports this product into Nigeria. Some of these tank farm owners who have gone to collect this product don’t blame them because the cost of doing business has also changed.

“It became so difficult for them to sell at N148.17 but yesterday I want to tell you that NNPC and PPMC went to their tank farms and released products.

“That is why we are thanking them that with this product we can now access the product at N148.17 Status quo ante must be maintained moving forward and from what they have told us they have products that can last us up to 32days.

“We must be happy with that knowing full well the challenges we have globally on Energy that is why we are thanking them.”

He said massive loading if the product is ongoing in Lagos adding that in a matter of days the long queues will fizzle out.

He thanked President Muhammadu Buhari for making available an N4trillion budgetary provision for subsidy, especially with the current global energy problems caused by the ongoing Russian-Ukrainian war.

He said they have engaged a consultant who will go into the books to determine exactly what the Association of Distributors and Transporters Of Petroleum Products (ADITOP) are being owed in terms of bridging claims.

According to Elder Okoronkwo, to mitigate against persistent losses there is collection of N5000 product liability Insurance by the Down Stream Regulatory Authority on behalf of IPMAN

He pleaded in a special way with the Downstream Regulatory Authority to make payments regarding Marketers’ product differentials and Bridging claims to enable their members to continue to be in business as some have been owed such claims for upward of 6 months.

He called on all members to submit their claims and all documentation to the consultant, the Benham Group to review and reconcile the bridging claims

He expressed appreciation for the tremendous support the NNPC, PPMC, and other government agencies who worked hard to stabilize and smoothen the supply of products across the country

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Kwara-based Catholic School Shines In 2024 UTME: 30 Students Score Above 300

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The Eucharistic Heart of Jesus Model College, Ilorin, Kwara State, has made headlines with a remarkable achievement in the 2024 Unified Tertiary Matriculation Examination (UTME).

Revealed by Reverend Father Jude Okeh via his X handle, @friajudeo, the school proudly announced that 30 of its students scored impressively between 300 and 355 points.

Topping the list are Fasesin Ayomiposi and Kunle-Olawepo Ayomikun, both securing an outstanding 355 points.

Following closely are Adelodun Oluwadarasimi and Ayejuto Daniel with 341 points, and Idris Jamaaldeen with 333 points, showcasing the school’s commitment to academic excellence.

The UTME results have garnered attention amidst recent controversies surrounding the exam. With over 8,000 students nationwide achieving scores above 300, the proficiency demonstrated by these students from Eucharistic Heart of Jesus Model College stands as a testament to their dedication and the quality of education provided by the institution.

In a statement, Reverend Father Jude Okeh highlighted the significance of this achievement, particularly in light of the challenges faced by candidates nationwide.

Netizens have lauded the students’ success, acknowledging it as a remarkable feat amidst the backdrop of JAMB’s statistics, which revealed a significant number of candidates failing to meet the 200 marks threshold.

JAMB reiterated the purpose of the UTME as a ranking examination and cautioned against the proliferation of fake result slips.

The board emphasized the importance of relying on official channels for result verification, reaffirming its commitment to maintaining the integrity of the examination process.

The stellar performance of the students from Eucharistic Heart of Jesus Model College serves as a beacon of inspiration, reflecting the potential for excellence within the educational landscape of Kwara State and beyond.

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Fuel Crisis: No End In Sight As NNPC, IPMAN Fight Dirty

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The ongoing fuel crisis appears to be a case of the grass suffering while two elephants fight.

The bone of contention seems to be that while the Nigerian Government wants to carry out minor reforms in the supply chain, and is assuring the public that the scarcity would end soon, the organised marketers appear focused on protecting the interests of its members.

Biztellers reports that about 8,000 operating licences of IPMAN’s members are threatened by a new policy of the National Petroleum Company Limited (NNPC Ltd).

Recall that the NNPC Ltd had placed a deadline of April 15, 2024, for marketers to renew their operating licences or risk being denied access to their customer express portals for the purchase of petroleum products from the NNPC Retail Limited.

However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) had claimed that the registration processes and requirements were cumbersome, for which some of its members could not meet the deadline.

Consequently, the IPMAN requested an extension till July, so that its members could reconcile their licenses and address the lingering scarcity, which has compounded the economic woes confronting the ordinary Nigerian.

The IPMAN has also appealed to the Nigerian Midstream and Downstream Regulatory Authority (NMDRA) to release 9,000 already processed licences to its members.

The National Public Relations Officer, IPMAN, Chinedu Ukadike, gave an update on the Association’s position in a statement on Thursday in Abuja.

The statement read, “The Independent Petroleum Marketers Association of Nigeria are abreast with current developments in the downstream sector of our petroleum industry and wish to state that the latest information reaching us from the Nigerian Midstream and Downstream Petroleum Regulatory Authority states that they have already processed more than 9,000 out of the 15,000 licenses they are expected to process for our members within this period.

“Marketers are fast-tracking the processing of their licenses to avoid the impending closure of their customer express portals for purchase of petroleum products from NNPC Retail Limited.

“We, therefore, use this opportunity to appeal to the management of the NMDPRA and NNPC Retail Limited to respectively release the processed licenses and extend the deadline for delisting of marketers from their express portals.

“If our request is granted, it will ease the tension of panic buying by members of the public in order not to aggravate the present scarcity of petroleum products.”

In an earlier statement, the IPMAN had blamed the ongoing scarcity which had seen pump prices of Premium Motor Spirit (PMS) skyrocket to between N750/litre to N1,200/litre across Nigeria on turnaround maintenance of oversea suppliers of the product.

On its part, the NNPC Ltd had blamed logistics on the scarcity, which it claimed to have addressed.

The state oil company had also tried to address the situation by assuring of sufficient stock and increased product supplies, yet, the IPMAN members appear to be sticking to their gun, in protection of members’ interests, by controlling sales to the public.

Recall that the Chairman, IPMAN Depot Chairmen Forum, Yahaya Alhassan, had on Tuesday threatened to shut down the 30,000 stations operated by IPMAN members across the country if the Federal Government failed to pay the N200bn that was being owed marketers.

The IPMAN’s position was contained in a communique issued in Abuja by over the non-payment of marketers’ bridging claims.

According to the IPMAN, the NMDPRA had refused to clear the debt, which had continued to accrue since September 2022.

It might just be that the two elephants are keeping the bone of contention close their chests and feeding members of the public with tales by the moonlight.

In the interim, the economic hardship continues to bite harder, with common Nigerians at the receiving end.

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Vigilantes Slain, Village Heads Abducted In Kaduna Attack

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In a tragic turn of events, it has been reported that a group of terrorists attacked Kakangi and Unguwan Matinja communities in the Birnin Gwari Local Government Area of Kaduna State, resulting in the deaths of eight vigilante members and two others.

Additionally, the village heads of Kakangi and Kisaya villages were abducted during the assault.

The attack, confirmed by resident Idris Khalid, occurred early on Thursday when armed individuals invaded the villages.

Among the victims in Kakangi were eight vigilante members, including Bala Kamba, Abdurrahman Musa (Ubale), Kabiru Dan Dugui, Hambali Abu, Aliyu Abu, Nura Jika (Maleka), Mubarak Musa (Dan Wamba), and Ikra Hantsi.

Khalid further disclosed that the two individuals who lost their lives in the Ungwan Matinja community, located under Gayam Ward, were identified as Christopher Abubakar and Isah Gambo.

He explained that the vigilantes came under attack while tracking the kidnapped victims, who had been abducted while en route to a burial ceremony between Kakangi and Sabon Layi.

The resident said “The vigilantes engaged the terrorists, killing scores of them but could not rescue the two traditional rulers and others.

“Normally, anytime there is a kidnap incident, the vigilantes always trail the terrorists to rescue the victims.

“It’s unfortunate that in the process, eight gallant officers of the vigilantes who have been sacrificing in ensuring the safety of our people were lost.”

The Public Relations Officer of the State Police Command, ASP Mansir Hassan, stated that they are actively investigating the matter to ascertain the truth, noting that the area where the incident occurred experienced network issues.

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