IPMAN’s 50,000 mt of Kerosene Arrives

KeroseneFuel Attendants Dispensing Kerosene At N50 Per Liter Under The Kero Correct Initiative In Bayelsa

The ship carrying 50,000 metric tons of Dual Purpose Kerosene (DPK) which the Independent Petroleum Marketers Association Nigeria (IPMAN) imported is billed to arrive Lagos today.

Its National Secretary, Malam Danladi Pasali, in phone interview, noted that the association has been tracking the ship which coming from Russia.

According to him, the cargo had some issues on its way but it will eventually arrive Lagos on today before the association will unfold it pump price and distribution plans for the product.

He said: “We are still in Lagos. The cargo had some issues but it is coming in on Tuesday (today). We have been tracking it.”

The Nation had exclusively reported that IPMAN received a bill of landing for the arrival of 50,000 metric tons of kerosene via Lagos.

It was learnt that key members of the association were already in Lagos as at September 8 in preparation for the product that is due for arrival in 10 days time.

Pasali said the association has planned to crash the current pump price of kerosene as it is prepared to sell below the Petroleum Products Pricing Regulatory Agency (PPPRA) price.

“We are in Lagos expecting our bill of landing for 50,000metric tons of kerosene . We are in Lagos now. We have received the bill of landing. We are expecting it in the next 10 days. That is what the bill of landing is reading. The arrangement is that we are going to crash the price. Our price will go below NNPC price,” he said.

He noted that following the economic recession which has weakened the purchasing power of the consumers, the demand for Premium Motor Spirit (PMS) has reduced.

Pasali however added that members of his association were already selling petrol below the N145 pump price.

“The truth is that because of the current recession which is affecting everybody, the sale is not like before. The purchasing power of people has reduced.

“But the good thing is that our members are selling below government price of N145. Independent marketing filling stations are now selling at N140, N141. That is just the good news,” he said.

Pasali said petrol is also easily accessible even in the Southeast owing to the operation of the Port Harcourt Refinery and availability of products in Calabar and Ogara depots.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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