IPMAN reads riot act to touts, hoarders of fuel

Independent Petroleum Marketers Association of Nigeria (IPMAN) in the eastern zone has issued a stern warning to hoarders of petroleum products and advised touts to steer clear of the nation’s depots.

It lamented that genuine marketers have been facing difficulties because of the activities of some cabals and touts who have hijacked the sale of products.

This warning was issued by the Eastern Zonal Chairman of IPMAN, Chief Adokiye Dede, in Calabar, shortly after he introduced the new caretaker committee for the Calabar Depot, headed by Mr. Effiong Udoh, to petroleum stakeholders in the area.

The IPMAN boss called on the authorities to privatise all the refineries in the country, saying with the active participation of the private sector, there was bound to be proliferation of new refineries which, among others, will reduce the high level of unemployment.

Dede said as a major oil producing nation, it made no sense exporting huge quantities of crude to other nations and importing the finished products at exorbitant prices.

He averred that the huge funds being expended on subsidising prices had been better be channelled to other areas for economic development.