IPMAN’s Chairman in Enugu depot, Chinedu Anyaso, blamed the
reduction on the hike of the pump price of fuel.
Lamenting that the negative situation has affected
marketers, Anyaso urged the President Bola Tinubu-led Federal government to
reduce the pump price of fuel.
NAN reports that he warned that most marketers might shut
down, a situation that may lead to the collapse of the downstream sector.
According to Anyaso: “Marketers are facing an existential
challenge due to low profits as a result of reduced sales affecting their
abilities to meet their operational costs and obligations with banks.
“Marketers are worse affected by this policy of subsidy
removal, profitability has reduced because average sales have reduced by about
50 per cent.
“We appeal to the Federal Government to save downstream
operations from collapsing by working on reduction in pump prices.”
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