IPMAN reveals solution to ending Nigeria’s fuel scarcity relies in the hands of President Buhari

Police nab 3 principal suspects in Zamfara killings On February 19, 201811:09 amIn NewsComments By Joseph Erunke ABUJA-THE Police authorities have recorded a major breakthrough in their efforts to arrest and prosecute the bandits that perpetuated the February 14 killings in Zamfara State with the arrest of three principal suspects. The three principal suspects arrested for participating in the recent Zamfara killings, according to police source, are now in Police Custody. Police The suspects whose names were given as Halilu Garba, alias Masashi, aged 45 years;Zubairu Malafa, alias Wakili, aged 45 years and Nafi’u Bahamas, alias Zakiru and aged 40 years old respectively are said to be assisting the Police in the investigation into crime. Vanguard learnt that the Inspector General of Police, Ibrahim Idris, after being informed of the development, had directed that the suspected bandits be immediately moved to the Force Headquarters, Abuja. Force Public Relations Officer, Jimoh Moshood, confirmed the arrest following enquiry from Vanguard. Details coming…

Read more at: https://www.vanguardngr.com/2018/02/police-nab-3-principal-suspects-zamfara-killings/

IPMAN reveals solution to ending Nigeria’s fuel scarcity relies in the hands of President Buhari

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that scarcity of fuel would persist unless President Muhammadu Buhari’s government breaks the Nigerian National Petroleum Corporation (NNPC)’s monopoly of importation and distribution of petroleum products. Western Zonal Chairman of IPMAN, Debo Ahmed, stated this yesterday at a press conference in Ilorin, the Kwara State capital

He added that breaking NNPC’s monopoly remained the most urgent step to end the scarcity. Ahmed said: “The fuel scarcity will persist for sometime because the NNPC, as sole importer, distributor and retailer, has no capacity to meet the country’s demand for petrol. That is a very dangerous monopoly that could destroy the economy.”

He noted that the quantity of the Premium Motor Spirit (PMS) being imported into the country is haphazardly distributed to the disadvantage of IPMAN, which is said to have 80 per cent share of the market.

He also pointed out that NNPC’s retail mega stations, which have 3.5 per cent share of the market, were allocated 50 per cent of available products in all the functioning depots across the country. “IPMAN with 80 per cent share of the market is allocated 30 per cent share of the products in all functioning government depots in the country.

“With this distribution pattern, the NNPC and the Petroleum Products Marketing Company (PPMC) are strangulating IPMAN because the gates to a lot of our marketers stations are locked up. “Most of the imported petrol are given to depot owners under the PFI system to sell to independent marketers at a controlled price of N133. 28 but private depot owners will sell at N160 or N162, which is above the regulated price.

“Again, most of our marketers have been rendered useless, while many others have laid off their staff. Many others now have problems with their bankers.”

Credit: dailypostng