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IPMAN Reacts To Reports Of Increasing Fuel Pump Price To N700
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has refuted the alleged plan to raise the nationwide pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N700 per litre. According to NAN, Dele Tajudeen, the Chairman of IPMAN Southwest Zone, clarified the association’s position in an interview in Ibadan on Friday. He urged Nigerians to disregard the speculation and avoid panic buying.....KINDLY READ THE FULL STORY HEREā¶
Tajudeen emphasized that the current price of the product would not exceed its present value. He applauded President Bola Tinubu for eliminating the petrol subsidy, stating that it was long overdue. He further explained that the slight increase in the pump price was due to transportation costs, assuring Nigerians that the commodity would remain affordable for the masses.
“I want to dispel any concerns and reassure the public that there is no need to panic. We are in control, and there is no way petrol can be sold at a price higher than it is now. Even if the foreign exchange rate is N700 or N800, it would not push the petroleum price from N500 to N700,” stated Tajudeen.
Meanwhile, a coalition of Civil Society Organisations (CSOs) has pledged to resist any purported hike in the petrol pump price.
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