IPMAN threatens nationwide fuel station shutdown over govt price pressure
IPMAN threatens nationwide shutdown of filling stations if the federal government enforces price controls despite the sector’s deregulation under the Petroleum Industry Association. Spokesperson Chinedu Ukadike said marketers have lost between ₦10 billion and ₦15 billion due to recent fuel price reductions, forced to sell at a loss after buying at higher rates. He warned that any attempt to regulate prices in a deregulated market would trigger a total shutdown. This comes after the Minister of Petroleum Resources, Heineken Olokpobiri, and the Federal Competition and Consumer Protection Commission warned marketers against exploitative pricing as Brent crude fell to about $72 a barrel and WTI to $69, yet pump prices in Abuja remain between ₦1,210 and ₦1,300 per liter despite the Dangote refinery’s recent price cut. A nationwide shutdown would disrupt fuel supply, spike transport costs, and affect daily commutes and businesses across Nigeria. Motorists may need to consider alternative transport options, stock up fuel where possible, or monitor updates for possible shortages. If stations shut, will you rely on alternative transport, stock up fuel, or adjust travel plans?