IPMAN to investigate members hoarding, hiking price of PMS in Bayelsa

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that it would soon commence an investigation into its members reported to be hoarding Premium Motor Spirit (PMS) and selling it above the approved pump price of N163 in Bayelsa State.

The IPMAN in a statement issued in Yenagoa by the Chairman of the Bayelsa State chapter, Hon Bello Bina, said the noticeable arbitrary increase from N163 to N203 in some filling stations in the state capital is a gross abuse of the rights of the people and it is a crime.

While announcing that the IPMAN would set up a monitoring team to visit some accused petrol stations in Yenagoa to gather evidence of alleged hoarding and illegal sale of fuel at outrageous prices, Bina assured that all erring filling stations would be sanctioned accordingly.

Bina said the investigation became necessary because the IPMAN had not received any official communication on the purported fuel price increase, directed its members to sell at N163 while urging residents of the state to ignore any purported price hike.

The Chairman also directed his members to continue selling a litre at the same N163, insisting that whenever there is prize increment in the country, critical stakeholders would always inform the IPMAN leadership, thereby, urging the general public not to panic as the association had no intention to inflict hardship on the people.


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