Home News Business may soon end for black marketers

Business may soon end for black marketers


By Princess-Ekwi Ajide. Abuja

As queues keep building up at filling stations across the country and black marketers making brisk business over seeming fuel scarcity, stakeholders in the oil sector have urged Nigerians not to panic as there is enough product that will sustain the country.

Scarcity of fuel has brought severe and untold hardship to many, households as people are left with no option but to abandon their lawful businesses due to hikes in the price of commodities or transportation in Nigeria.

Many have also benefited immensely from the black market sales which have become their major occupation in the country.

Prior to this, these groups say they are making everything possible to address members’ and citizens’ concerns so as to meet the needs and aspirations of the people.

Speaking to the press in Abuja, the President of Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Okoronkwo, said, the Nigerian National Petroleum Cooperation is capable of supplying adequate fuel products to marketers hence they are collaborating with other partners to ensure availability for the interest of the citizens.

Also speaking, a financial expert Dr. Maurice Ibe, appealed to agencies under the Petroleum sector to release over 20 trillion Naria trapped resources meant for the marketers in order to boost performance.

While the president of the Association of Distributors and Transporters of Petroleum Products, ADITOP, Lawan Danzaki emphasised that the marketers are at the receiving end as their investments are being tied down by the government and called for release of the funds to encourage them.

The group however, applauded President Muhammadu Buhari’s led administration for utilizing the 4 trillion Naira subsidy as well as its relentless efforts at solving the energy problem brought about by the Ukraine and Russia crisis.


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