Independent Petroleum Marketers Association of Nigeria (IPMAN), the Akwa Ibom State Chapter has pleaded to the Federal Government to exercise patience with marketers to enable them to exhaust their old stock of petroleum product purchased.
IPMAN promised to comply with the directives of FG next week after all the old stock must have been cleared.
Speaking with newsmen in Uyo, the State Chairman of IPMAN, Pastor Ubong Isong explained that by allowing for immediate compliance could crumble the investment of the individual marketers.
“We are in support of the Federal Government directives. But we are appealing to Federal Government to allow us some times to clear our old stock.
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“This is because, if we do not finish the old stock before complying with the new directives, our members will lose so much in the business,” Isong added.
Meanwhile, the federal government had on Wednesday announced a downward review of petrol price from N145 to N125, resulting from the crash in crude oil price as well as glut in the international market.
Isong commended President Buhari led government for the reduction of petroleum price in the country, stressed that the move was in the right direction to ease the burden of the masses.
While thanking the Minister for Petroleum and the entire management of NNPC over the reduction, IPMAN State Chair called on all the members to cooperate with new directives after exhausting the old stock or risk punitive action.
Our correspondent observed that most petrol stations in Uyo Metropolis were still selling their product at 145 except NNPC mega stations which have complied with the new price of 125.