Most marketers can't afford to purchase 45,000 liters of petrol due to subsidy removal, former IPMAN chairman
Sarajudeen Bada, the former chairman of the Independent Petroleum Marketers Association of Nigeria(IPMAN) has said that its members can no longer afford to purchase 45,000 litres of petrol due to the removal of fuel subsidy by President Tinubu. He disclosed this in an interview with The PUNCH.
Bada stated that the members of IPMAN are now left with no choice but to contribute money among themselves to purchase 45,000 liters of petrol unlike before when each member could easily afford to buy a tank for themselves. He further stated that the price of 45,000 liters of petrol used to cost below N9 million before subsidy removal. The removal of the subsidy led to a surge in the previous N180/liter to N617/liter around July. Now, a 45,000 litre truck of petrol costs N27 million and the majority of the marketers who cannot afford it are out of business.
As the Chairman of the Ogun State Oil and Gas Traders Association, Bada said the government policies are terribly affecting the marketers as they have to share a truck of Petrol among three stations to avoid closing down their fuel stations.
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