FUEL QUEUES ON MONDAY PERSISTED IN PARTS OF LAGOS STATE FOLLOWING THE DECISION OF SOME MEMBERS OF THE INDEPENDENT PETROLEUM MARKETERS ASSOCIATION OF NIGERIA (IPMAN), TO SHUTDOWN THEIR OPERATIONS.
, CHAIRMAN, IPMAN, LAGOS SATELLITE DEPOT, EJIGBO, AKIN AKINRINADE WHO CONFIRMED THE DEVELOPMENT TO NEWSMEN IN LAGOS SAID THEY TOOK THE DECISION BECAUSE THEY COULD NO LONGER CONTINUE TO OPERATE AT A LOSS.
HE SAID WHILE THE GOVERNMENT HAD FIXED N165 PER LITRE AS THE PUMP PRICE OF PREMIUM MOTOR SPIRIT (PMS), CURRENT REALITIES IN THE MARKET SHOWED THAT THE MINIMUM PRODUCT RETAIL PRICE SHOULD BE AT N180 PER LITRE.
ACCORDING TO HIM, THE CURRENT SCARCITY BEING WITNESSED IN LAGOS IS BECAUSE MAJORITY OF PETROL STATIONS IN THE STATE ARE OWNED BY IPMAN MEMBERS WHO ARE FINDING IT DIFFICULT TO OPERATE IN A HOSTILE ENVIRONMENT
