Deregulation: IPMAN Expresses Confidence In Pump Price Slash

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the current fuel scarcity being experienced across Nigeria will stop and that the high pump prices will eventually go down.

IPMAN National Public Relations Officer, Chinedu Ukadike, in an interview with New Telegraph, yesterday, said the current fuel scarcity and high pump prices were things that are experienced during the transition period.

He stated that Nigeria was currently transitioning from a regulated regime to deregulated market. The IPMAN PRO also said Dangote Refinery had been undersupplying.

He added that IPMAN was in talks with Dangote refinery for the integration of its members for the marketing of fuel produced by the refinery, adding that there would be positive news soon.

He said: “This is a kind of transition period from regulated regime to a quasi-deregulated regime and now a fully deregulated regime. We are really in a transition period. “There are a lot of issues that need to be addressed.

Those issues will take time to fuse in. Now petroleum products have been deregulated in the country. “The realism of this feat is not comfortable with Nigerians because of the strategic nature of petroleum products in the downstream distribution chain.”