{"id":84010,"date":"2024-01-24T07:01:00","date_gmt":"2024-01-24T07:01:00","guid":{"rendered":"https:\/\/theelectricityhub.com\/?p=84010"},"modified":"2024-01-24T09:30:48","modified_gmt":"2024-01-24T09:30:48","slug":"ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike","status":"publish","type":"post","link":"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/","title":{"rendered":"IPMAN Blames NMDPRA\u2019s 600% Tariff Increase for Petrol Price Hike"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li class=\"\">IPMAN\u2019s national president disclosed a newly imposed 5% tax on the sales or acquisition of a filling station.<\/li>\n\n\n\n<li class=\"\">The calibration cost per tank, previously set at N20,000, has surged to N150,000 per tank, indicating a 650% increase.<\/li>\n<\/ul>\n\n\n\n<p class=\"\">The Independent Petroleum Marketers Association of Nigeria (<a href=\"https:\/\/theelectricityhub.com\/?s=IPMAN\">lPMAN<\/a>) have blamed the over 600 per cent increase in tariffs from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) between 2020 and 2023 for the cost of petroleum products across the country. In a statement released to the press on Tuesday in Lagos, the National President of IPMAN, Alhaji Debo Ahmed, pointed out that the arbitrary and excessive nature of the price hike not only discourages potential investors but also creates barriers for new investors seeking entry, placing a burden on existing businesses.<\/p>\n\n\n\n<p class=\"\">According to him, the resulting increased costs are ultimately transferred to consumers and the public. \u201cThose already in the business will pass the burden to the consuming public, affecting the cost of products. I think NMDPRA, as an agent to the federal government, should advise them on how to succeed in this removal of oil subsidies. Between 2020 and 2023, NMDPRA had increased some, if not all, of its operational tariffs to over 600 per cent and added other unnecessary tariffs, generating lines to the already existing ones,\u201d he added.<\/p>\n\n\n\n<p class=\"\">The IPMAN president provided an example where the calibration cost per tank, previously set at N20,000, has surged to N150,000 per tank, indicating a 650 per cent increase. Also, the price for pressure testing, formerly N20,000 per tank, has risen to N150,000 per tank. Ahmed noted that the combined impact of these tariff hikes is placing substantial financial strains on both existing and new fuel stations. He noted that renewing a license for an existing station could now exceed N2 million, while new stations may face expenses surpassing N4 million.<\/p>\n\n\n\n<p class=\"\">He expressed concern over a newly imposed 5 per cent tax on the sales or acquisition of a filling station, which could potentially discourage sales, mergers, and acquisitions within the industry. He further explained that these tariff increases run counter to the objectives of deregulation, which aims to attract more investors, open the market, ensure product availability, and provide consumers with more choices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Independent Petroleum Marketers Association of Nigeria (lPMAN) have blamed the over 600 per cent increase in tariffs from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) between 2020&hellip; <\/p>\n","protected":false},"author":42,"featured_media":84016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[219,928],"tags":[1612,242,4097,4098],"class_list":["post-84010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-west-africa","tag-ipman","tag-nigeria","tag-nmdpra","tag-petrol-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IPMAN Blames NMDPRA\u2019s 600% Tariff Increase for Petrol Price Hike &#8226; The Electricity Hub<\/title>\n<meta name=\"description\" content=\"IPMAN have blamed the over 600% increase in tariffs from the NMDPRA between 2020 and 2023 is affecting the cost of petroleum products...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IPMAN Blames NMDPRA\u2019s 600% Tariff Increase for Petrol Price Hike &#8226; The Electricity Hub\" \/>\n<meta property=\"og:description\" content=\"IPMAN have blamed the over 600% increase in tariffs from the NMDPRA between 2020 and 2023 is affecting the cost of petroleum products...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/\" \/>\n<meta property=\"og:site_name\" content=\"The Electricity Hub\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theelectricityhub\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-24T07:01:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-24T09:30:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2024\/01\/IPMAN-blames-NMDPRAs-600-hike-in-tariff-for-hike-in-petrol-price.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"320\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Blessing Afolabi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NGElectricHub\" \/>\n<meta name=\"twitter:site\" content=\"@NGElectricHub\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Blessing Afolabi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/\"},\"author\":{\"name\":\"Blessing Afolabi\",\"@id\":\"https:\/\/theelectricityhub.com\/#\/schema\/person\/63776026eab1cdcde630ab8252152e2a\"},\"headline\":\"IPMAN Blames NMDPRA\u2019s 600% Tariff Increase for Petrol Price Hike\",\"datePublished\":\"2024-01-24T07:01:00+00:00\",\"dateModified\":\"2024-01-24T09:30:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/\"},\"wordCount\":373,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/theelectricityhub.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/theelectricityhub.com\/wp-content\/uploads\/2024\/01\/IPMAN-blames-NMDPRAs-600-hike-in-tariff-for-hike-in-petrol-price.jpg\",\"keywords\":[\"IPMAN\",\"Nigeria\",\"NMDPRA\",\"Petrol price\"],\"articleSection\":[\"News\",\"West Africa\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/\",\"url\":\"https:\/\/theelectricityhub.com\/ipman-blames-nmdpras-600-tariff-increase-for-petrol-price-hike\/\",\"name\":\"IPMAN Blames NMDPRA\u2019s 600% Tariff Increase for Petrol Price Hike &#8226; 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