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IPMAN directs marketers to sell fuel at N123. 50 per litre , Promises steady supply.
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Kano chapter has reacted to the new price announced by the Petroleum Pricing Regulatory Agency ( PPPRA), and has instructed its members to comply with the new price with immediate effect.
This was contained in a statement by the chairman independent petroleum marketers association Kano chapter, Alhaji Bashir Danmallam, a copy of which was made available to newsmen in Kano on Tuesday.
He asked all marketers under his jurisdiction to comply with the new price modulation advice by making sure no one sells above the approved ceiling of N123.50K per litre.
Recall in a circular released by the Petroleum Products Pricing Regulatory Agency (PPPRA) ، directed marketers to sell fuel (PMS) not above N123.50 per litre.
“After a review of the prevailing market fundamentals in the month of May and considering marketers’ realistic operating costs, as much as practicable, we wish to advise of a new PMS guiding pump price with corresponding Ex-Depot price for the month of June, 2020, as follows: Price Band: N121. 50 — B123. 50 per litre.
Ex-Depot price:N102.13–N104.13 per litre.
Ex-Depot for collection:N109.78–N111. 78 per litre.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA,” the circular said.
Danmalam further assured the public of a steady supply and distribution of petroleum products at all times and in all circumstances, praying also that God would see us through the pandemic.
He advised public and marketers to continue to observe all public health measures of personal hygiene and physical distancing to curtail the spread of the virus.