The Independent Petroleum Marketers Association of Nigeria (IPMAN) advises marketers to merge in light of the recent deregulation of the downstream sector.
Speaking in an in interview with the News Agency of Nigeria (NAN) yesterday here in Lagos, Mr. Mike Osatuyi, IPMAN’s National Operations Controller, said with the increase in the pump price of petrol, marketers could collaborate to buy a truck of 45,000 litres of petrol to share among themselves. According to him, like-minded marketers can merge together to buy the product.
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Speaking in the same line, Mr. Tunji Oyabanji, Managing Director, 11 Plc, said that marketers who do not have sufficient money to trade might be caught up with the reality of a free market.
He added that only the financially strong members would survive, that those stations and tank farms that were not economically viable would also be affected.
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