Nigeria’s Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied reports that it plans to increase the pump price of Premium Motor Spirit (PMS), popularly known as petrol, to N700 per litre nationwide.
This was disclosed by the Chairman of IPMAN South-West zone, Dele Tajudeen,?who stated this? in an interview with the newsmen yesterday.
The Marketers urged Nigerians to disregard the reports, stating that the price would not be more than what is being sold.
Tajudeen?stressed that the price of the product would not be more than what is being sold presently, and praised President Bola Tinubu for removing the subsidy on petrol adding that it was long overdue.
According to him, “Even in the PIA Bill, it has been clearly stated that the subsidy must be removed. So, I want to commend him for removing the subsidy and I want to say that we are in support totally. This is because the subsidy was a scam”.
The IPMAN chief stated that the slight increase in pump price was because of the transportation cost and that Nigerians should be at rest as the commodity will not be out of reach for the masses, adding that it is just speculation it is not a reality.
“Nothing like that I want to assure the masses. There is no how the price can go to N700 as we speak, because even if the FX is N700 or N800 that has not nothing to take the price of petroleum from N500 to N700”, Tajudeen further said.
The IPMAN chief stated that the product had been deregulated, hence the differential in prices was due to transportation as it is related to location.
Earlier reports of another price increase has however caused a lot of stir amongst Nigerians, who lament the hardship the current prices have caused individuals, families and businesses.
