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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

NEWS

With Sights Restored, NNPC/Shell Vision First Outreach Makes Mark in Badagry

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Nearly 3,000 people in Badagry Local Government Area of Lagos State benefitted from the latest edition of the Vision First initiative of the Nigerian National Petroleum Company Limited (NNPC Ltd) and Shell Nigeria Exploration and Production Company Limited (SNEPCo), last week.

Biztellers reports that on the first day alone, 38 patients had surgeries which restored their sights.

The beneficiaries expressed gratitude to the NNPC Ltd/SNEPCo for the treatment, saying the restoration of their sights would help reintegrate them into society.

READ ALSO: Pipeline Surveillance Crucial for $50bn Upstream Investment

A total of 2,297 people were seen by the medical team of which 1,458 had eye care services with 154 surgeries for cataract and 878 spectacles dispensed. This was in addition to more than 200 general surgeries. There were long queues as people turned out early from different parts of the local government area to take advantage of the services in the five-day outreach.

SNEPCo Managing Director, Ronald Adams commented: “We believe that caring for people goes beyond business; it is a responsibility and a privilege. That is why we remain committed to supporting initiatives that strengthen communities and create lasting impact.”

The Badagry outreach was the 6th since the inception of the Vision First initiative in 2022. Late last year, the first session outside Lagos was held in Asaba, Delta State where nearly 2,000 people received healthcare.

The Vision First programme incorporates other aspects of health care such as cardiovascular screening, consultations and treatment for mild and chronic illnesses, laboratory services, pharmaceutical services and distribution of insecticide-treated nets.

The programme has been delivered in collaboration with Kolmarg Eyesight Foundation, an NGO based in Jos, Plateau State, which aims “to provide comprehensive eye care to the poor and underprivileged in Sub-Saharan Africa.”

SNEPCo, which pioneered deepwater oil production in Nigeria through the Bonga field in 2005, also supports the socio-economic development of the country through investments in education, health, employment generation and infrastructural development.

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Osun 2026: Tinubu Congratulated Adeleke Before INEC Declared Him Winner — Accord Chieftain

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President Bola Tinubu congratulated Osun State Governor, Ademola Adeleke, on his victory in the 2026 governorship election before the Independent National Electoral Commission formally declared him winner, an Accord Party chieftain, Pelumi Olajengbesi, has disclosed.

Olajengbesi made the disclosure while speaking with journalists at the INEC collation centre in Osogbo shortly after Adeleke was declared winner of the election.

He commended Tinubu for what he described as the President’s decision not to interfere with the electoral process, saying it demonstrated his commitment to ensuring that the election was free, fair and credible.

SEE MORE: Osun 2026: Oyebanji Applauds Adeleke, Says Voters Have Spoken

According to him, the President had earlier directed INEC and security agencies to ensure that the election met the required standards.

However, Olajengbesi said the poll could not be considered entirely free and fair, alleging that opposition supporters were subjected to oppression and arrests.

“Let me be honest with you, we are also appreciative of Mr. President because at the commencement of this election, Mr. President himself announced to the world and gave a directive to INEC and all security agencies that this election must be free, fair, and credible.

“We want to believe that this election is very credible, but we do not agree that this election is free and fair because it was oppressive. Our people are still in detention. As I speak to you today, even during the election, over 11 persons were arrested in the process.”

Despite his concerns, Olajengbesi praised Tinubu for allowing the electoral process to continue and respecting the outcome.

“We are glad that the president was able to stand by his word and insist that the right thing must be done,” he said.

He further revealed that Tinubu had contacted Adeleke to congratulate him before INEC formally announced the result.

“Let me tell you this quickly: even before the result was declared yesterday night, Mr. President called Mr. Governor and congratulated him, and that is good leadership,” Olajengbesi said.

Adeleke won the election with 511,067 votes, defeating his closest challenger, Bola Oyebamiji of the All Progressives Congress, who secured 444,815 votes.

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Empower Police Wives to Boost Officers’ Morale — NPTF

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The Nigeria Police Trust Fund (NPTF) has called for greater empowerment of police officers’ wives, saying economically empowered families can boost the morale, stability and effectiveness of personnel.

The Fund made the call after training and equipping 100 wives of police officers in Kogi State with tailoring and hairstyling starter packs.

SEE MORE: State Police Bill: FG Extends Deadline for Nigerians to Submit Memoranda

The empowerment programme, which was held at the 37 Squadron, Police Mobile Force (MOPOL) Barracks, Lokoja, was designed to equip the beneficiaries with vocational skills and tools to establish sustainable sources of income.

Speaking at the closing ceremony, the Executive Secretary of the NPTF, Alhaji Mohammed Sheidu, represented by Salihu Aliyu, said the initiative was aimed at strengthening the families behind police officers who often operate under demanding and hazardous conditions.

He said, “By providing these starter packs, the Fund is creating opportunities for beneficiaries to become economically empowered, develop sustainable sources of income and contribute meaningfully to the wellbeing of their families.

“These starter packs represent opportunity, empowerment, hope and a pathway towards self-reliance.”

Sheidu urged the beneficiaries to regard the equipment as an investment in their future and utilise the skills acquired during the training to establish viable businesses.

Also speaking, the Kogi State Commissioner of Police, CP Naziru Bello Kankarofi, represented by DCP Baba Mallam, stressed the importance of supporting police wives as part of efforts to improve the welfare and effectiveness of police personnel.

He said, “The welfare of the police extends beyond our officers to the families who support them and make their service possible. Our officers make enormous sacrifices in the service of our nation.

“An empowered family is a stronger family. Such families contribute significantly to the morale, stability and effectiveness of officers.”

Kankarofi commended the Inspector-General of Police, IGP Olatunji Disu, for his commitment to the welfare of police personnel and their families, while appreciating the NPTF for sponsoring the empowerment programme.

He urged the beneficiaries to put the skills and equipment to productive use and turn them into sustainable sources of livelihood.

The Chairperson of the Police Officers’ Wives Association (POWA), Kogi State Chapter, Mrs Asmau Kankarofi, described the starter packs as “seeds of economic independence” for the beneficiaries.

She said police wives remained a vital source of encouragement, strength and support to their husbands and families, particularly given the sacrifices associated with policing.

“We understand the sacrifices that come with the policing profession. As wives, we remain a vital source of encouragement, strength and support to our husbands and families,” she said.

She urged the beneficiaries to utilise the equipment judiciously and support one another in building sustainable businesses.

The beneficiaries expressed appreciation to the NPTF and pledged to make productive use of the equipment to improve the welfare of their families.

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