IPMAN Breaks Silence over Plan to Sell Petrol at N700/Litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied reports that it plans to increase the pump price of petrol to N700 per litre across the country.

The south-west chairman of IPMAN, Dele Tajudeen, made the clarification in an interview with the News Agency of Nigeria (NAN) in Ibadan on Friday, June 30.

Tajudeen urged Nigerians to disregard such speculations and not engage in panic buying of the product.

He also assured that the product’s price would be less than what is being sold presently.

The IPMAN chairman commended President Bola Tinubu for removing the subsidy on petrol, adding that it was long overdue.

He said the increase in pump price was due to the cost of transporting the product.

“People should be rest assured that there is no way they can buy petrol more than the price it is being sold now,” the IPMAN zonal chairman said.

“If we look at the price from NNPC retail limited, which is an integral part of NNPC limited, they have more advantages than independent marketers and major marketers. t was the retail price that they announced they had never given a specific price to the independent marketers.

“However, I have read what somebody put into the paper; it is just speculation and not a reality. Nothing like that. I want to assure the masses,” he added.

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