IPMAN orders members to sell fuel at N150 per litre

The South West chapter of Independent Petroleum Marketers Association of Nigeria has directed all its members in the zone to henceforth, increase the pump price of Premium Motor Spirit, otherwise known as petroleum to N150 per litre.

The official pump price had been N143 per litre.

IPMAN South-West Zonal chairman, Alhaji Dele Tajudeen, who spoke with journalists on Thursday, in Abeokuta, said the directive became necessary in order to avert the planned shutdown of the filling stations across the zone.

Tajudeen said IPMAN took the decision due to a new price regime announced by the Petroleum Product Pricing Regulatory Agency.

The PPPRA had increased the depot price of the product from N133.72k to N138.62k without consulting with other critical stakeholders like IPMAN.

While berating the PPPRA for what he described as “policy inconsistency”, Tajudeen lamented that PPPRA’s new depot price has subjected IPMAN members to a serious dilemma. Punch