The Independent Petroleum Marketers Association of Nigeria (IPMAN), Wednesday, told its members to commence selling of petrol at N150 per litre.
In a statement signed by the chairman, Kano chapter, Bashir Ahmad Danmallam, IPMAN said member will comply with Petroleum Products Marketing Company (PPMC) instruction without hesitation.
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 a monthly basis depending on the price on the international market.
PPMC had in a memo signed by its Manager Sales, Mohammed Bello on Tuesday, August 4, 2020, fixed the ex-depot price of premium motor spirit, known as petrol at N138. 62 per litre.
“Please be informed that the Management has approved ex-depot price of petroleum products including Premium motor spirit (petrol) at N138. 62 per litre,” the memo said.
IPMAN urged private depots to also increased their price as they would sell the commodity to their members at N139. 5 per litre
Danmallam asked all members under his jurisdiction to comply with the new price regime by making sure no one sells above the approved ceiling of N150 per litre.
Danmalam assured the public of the availability of the petroleum products at all times.