IPMAN blames kerosine scarcity on CBN

By Tony Edike

ENUGU—THE Independent Petroleum Marketers Association of Nigeria (IPMAN) has blamed the clampdown on commercial banks by the Governor of Central of Nigeria (CBN) Mr. Sanusi Lamido Sanusi, for the current rise in prices of petroleum products, especially kerosene, which now sells for N150 in most part of the South East.

Chairman of the Enugu Depot branch of the association, Chief Chukwudi Ezinwa, who made this known when he spoke with reporters in Enugu at the weekend, decried the current kerosene scarcity, which has imposed serious hardship on the masses and urged the Federal Government to urgently intervene in them matter.

He said, “it is not only in Enugu state, it is the same throughout the nation. There is scarcity of kerosene. You know we are having a lot of problem in the distribution of petroleum products since the CBN Governor, Sanusi clamped on some of the big importers of petroleum products, a lot of banks have been withdrawing their capital from the marketers.

“As a result, some people can no longer import, and you know, we solely depend on imported products. So the CBN policy to withdraw money from  the importers has affected the market in the country. Currently, there is no kerosene at all.When you get to Lagos, you hardly see it.

Kerosene sells for between, N87 and above N90 in Lagos, then you add your transportation cost and come down to wherever you want to take it, it will be in the neighbourhood of N105, N110 and thereabout. Somebody will just add his own and start selling. So it is really a big problem and we are looking forward to government for solution”, he added.