The Chairman, Independent
Petroleum Marketers Association of
Nigeria, Mosimi, Ogun State, Mr.
Adeleke Bada, has agreed with the
former Minister of Petroleum, Prof.
Tam David-West, that petrol can
sell for N40 per litre.
He added that this could only be
possible, if the country refined all
crude oil in the nation’s refineries.
Bada said this in an interview with
journalists shortly after the
association’s Annual General
Meeting in Abeokuta, the state
Bada, who was flanked by other
members of the executive of the
association, reacted to the advice
given by former Minister of
Petroleum Resources, David-West,
to the President-elect to reduce
the pump price to N40.
He said “Reducing the pump price
of a litre of fuel to N40 is possible
only if the refineries are working. If
you look at the nature of the
market presently, that isn’t
realistic. Do we have the refineries?
“The only reason that it can be
possible is when we have our own
refineries and we do not export our
crude oil for processing. If the
processing is done in Nigeria, then
it can be sold at the rate of N40, but
not until all the refineries are
He, however, blamed the non-
compliance of sale of petrol at the
N87 per litre by some petroleum
marketers on the expenses
incurred by the marketers while
trying to get the fuel available for
the use of the masses.
He said the levies being paid by the
marketers to various regulatory
associations and unions had made
the marketers to increase the
prices of fuel to their desired
He said, “The government has not
increased the price of fuel; it is still
N87 per litre.
“But by the time you get to the
depot, after paying around N2.6m
for your ticket, a lot of levies are
still to be paid.
“Levies from PTD, IPMAN and all
others, adding them all together
with the cost of transporting your
trucks to the station, no one is
ready to run at a loss.”