IPMAN Denies Involvement in Fuel Diversion

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied involvement in the diversion of Petroleum Products by any of its members.
Mr Chinedu Okoronkwo, President of IPMAN, made the remark on Wednesday in Abuja before the House of Representatives special ad hoc committee investigating petroleum products subsidy regime in Nigeria from 2017 to 2021.
He said that such had been the usual allegation, adding that any marketer found guilty of the act should be treated as criminals.
He accused some petrol depots of selling fuel at the rate of N158 naira per liter instead of the government approved price of N148, adding that it was the cause of the hike in pump price.
He also said that the landing cost template of fuel IPMAN had been working with had not changed contrary to insinuation.
The Deputy Speaker of the house, Mr Ahmed Wase, disclosed that about N6 trillion was said to have been expended by government on oil subsidy in the time under review.
Wase, who represented the Speaker of the House of Representatives, Mr Femi Gbajabiamila, said that this necessitated the setting up of the committee to get to the root of the matter.
The Chairman of the committee, Mr Ibrahim Aliyu, said their mandate was to get the actual record of all companies and individuals involved and determine the total litres of crude oil exported and petroleum products imported.
Rep. Mark Gbila (Benue-PDP), a member of the committee, said that all organisations and agencies not duly represented should not be allowed to appear before the House.
The committee chairman, however summoned the Federal Inland Revenue Service, the Managing Director of AA Rano and other stakeholders, who did not come with their Chief Executive Officer.
Other stakeholders present include oil marketers and representatives of the ministry of petroleum resources.