The Independent Petroleum Marketers Association of Nigeria (IPMAN) denied the association’s alleged plan to increase the pump price of Premium Motor Spirit (PMS), also referred to as petrol, to N700 per litre across the country.
Alhaji Dele Tajudeen, Chairman of IPMAN Southwest Zone, disclosed this in an interview with the News Agency of Nigeria in Ibadan on Friday.
As a result, the chairman urged Nigerians to dismiss the speculation and refrain from panic buying.
Tajudeen stressed that the product’s pricing will not be more than what is already being sold.
He commended President Bola Tinubu for removing the petrol subsidy, saying it was long overdue.
“Even in the PIA bill, it is explicitly stated that the subsidy must be removed.”
“So, I want to commend him for removing the subsidy, and I want to express our complete support.” This is due to the subsidy being a scam.”
He said that the slight increase in the pump price was due to transportation costs and that Nigerians need not be concerned since the product will not be out of reach for masses.
“I want to disabuse people’s minds that they should not panic; there is no cause for concern; we are in control, and there is nothing like that.”
So, people should be rest assured that there is no way they can buy petrol more than the price it is being sold now.
“When we look at the price from NNPC retail limited, which is a subsidiary of NNPC limited, they have a price advantage over independent and major marketers.”
“It was the retail price that they announced, and they had never given a specific price to the independent marketers.”
“However, I read what somebody put in the paper, and it is just speculation, not reality.” I want to reassure the public that this is not true.
“There is no way the price can go to N700 right now, because even if the FX is N700 or N800, that will not lift the price of petroleum from N500 to N700,” Tajudeen said.
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