The South West zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to embark on a strike action over the new petroleum pump price regime announced by the Petroleum Products Pricing Regulatory Agency (PPPRA) last week.
IPMAN specifically said it would order its members to stop lifting of petroleum products in all the South West depots, thereby creating an artificial scarcity, should the federal government through the PPRA fail to revert to the old depot price of N111. 78.
The zonal chairman of the association in South West, Alhaji Dele Tajudeen, who spoke with journalists in Abeokuta, said the strike action becomes inevitable because the federal government through the PPPRA unilaterally moved the depot price from N111. 78 to N133. 72k, and pump price to N143. 80 without considering the marketers’ plights.
He berated PPPRA for increasing the depot loading price of petroleum products and also announcing N143. 78 as the new pump price of petroleum products, as well as the N21. 94k increase in depots price without adequate consideration of the welfare of its members, most of whom he said conduct their businesses with bank loans.
Tajudeen who described the new price regime as “unfavourable increment”, lamented the inconsistencies of PPPRA in dealing with stakeholders.
He added that IPMAN’s South West Executive Committee has resolved to embark on strike if the government failed to look into the issue.