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Forex Now Available To Import Petrol – IPMAN

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[caption id="attachment_7957" align="alignnone" width="690"]STOCK PHOTO[/caption]

The end to the prevailing scarcity of Premium Motor Spirit (PMS) across the nation seems to be around the corner after the Independent Petroleum Marketers Association of Nigeria, IPMAN, said, on Tuesday that its members have been granted Forex access to import petroleum products.

Speaking to Vanguard on Tuesday, the National Secretary of IPMAN, Alhaji Hassan Kirmi said all its members have now overcome the challenges of Forex, cautioning them to desist from the act of inflating the prices of PMS to end users.

He said: “So many of our members are bringing in product, which means they have accessed FOREX. But the complaint is that the FOREX is not forth coming as it were.

“There are enough products at almost all the tank farms in Lagos, Port-Harcourt and Warri. Nigerian National Petroleum Corporation, NNPC had on Friday structured the distribution chain into six geo-political zones that distribute petrol across the country and they are very effective.

“Our members are importing from Warri, Port-Harcourt, Lagos, Calabar. There is much product coming into the country, we have over 20 vessels on ground and refineries are producing.

“Also, we have presented our case to the government on the issue with the landing cost. That is why they are contemplating of bringing in subsidy.

With this development, marketers would be able to import and distribute petrol into the country, which will in turn spell an end to the frustrating queues seen at fuel stations across the country.

Before now Major Oil Marketers, MOMAN claim to over 10 days-worth of stock at their depots, totaling into 55 million litres of petrol. Nigeria is believed to consume an average of 40 million litres of petrol daily.