The Independent Petroleum Marketers Association of Nigeria (IPMAN) announced on Friday that its members earn only around N350,000 in profit from a truckload of fuel that costs approximately N50 million.
IPMAN expressed frustration over the name-calling by Nigerians amidst ongoing disputes with Dangote Refinery.
During an appearance on Arise Television’s Morning Show, Yakubu Suleiman, the National Assistant Secretary of IPMAN, emphasized that marketers are genuinely committed to serving Nigerians. He suggested that if the public understood the complexities of the petroleum industry, they would have a more favorable view of IPMAN.
He said: “So when we go and buy at higher price and come and sell it high at what people are not expecting, they will start calling IPMAN.
“We are tired of this name calling of IPMAN.
“If people understand the dynamics, they would have praised IPMAN because independent marketers are truly patriotic to Nigerians.
“How much is even our profit? We spent up to N45 million to N50 million buying one truck. And we come and get about a profit of N350,000.
“How much is our expenses at the filling stations? We have to pay salaries and other expenses.
“People won’t believe it. We spent about N50 million and get only N350,000, at most N400,000.
“Some of us are getting these monies from banks. Everybody is aware of the prevailing interest rate now. So these are the issues.
“So what we asking from Dangote is, he’s new in the business, let him call a stakeholders’ meeting – IPMAN, MOMAN and DAPPMAN, so that we can sit down and serve Nigerians.
“He (Dangote) can’t do business in isolation. He needs people, especially IPMAN.”
………..
Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500