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IPMAN direct members to sell petrol at N150 per litre

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IPMAN direct members to sell petrol at N150 per litre
FG begins inspection of weights and measures of oil pump in Bayelsa

By Bashir Bello – Kano

The Kano branch of Independent Petroleum Marketers Association of Nigeria (IPMAN), has on Wednesday directed its members to sell petrol at N150 per litre.

The IPMAN chairman, Bashir Dan-Malam, gave the directive in a statement made available to newsmen in Kano.

Dan-Malam said the directive followed the new price modulation announced by the Petroleum Products Marketing Company (PPMC) and has accordingly instructed its members to comply by selling the product at N150 per litre.

READ ALSO: VIDEO: Scrapping petroleum equalization fund’ll worsen poverty in Nigeria — IPMAN

According to him, “the directive was also in compliance with the government’s earlier statement that it would review upward or downward the price of the commodity on monthly basis depending on the price at the International market.

“Please be informed that the Management has approved the ex-depot price of petroleum products including Premium motor spirit (petrol) at N138. 62 per litre.

“Similarly, the private depots had also increased their price as they would sell the commodity to their members at N139.5 per litre.

“All members under our jurisdiction are therefore asked to comply with the new price regime by making sure no one sells above the approved selling of N150 per litre”.

Recall that the PPMC had in a memo signed by its Manager Sales, Mohammed Bello on Tuesday, August 4, 2020, fixed the depot price of premium motor spirit, known as petrol at N138. 62 per litre.

Vanguard

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