The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied the alleged plan by the association to increase a price of premium motor spirit (PMS) also known as petrol to N700 per litre nationwide.
The Independent Petroleum Marketers Association of Nigeria has denied reports that it plans to increase the pump price of premium motor spirit , also known as petrol, to N700 per litre nationwide.
The association’s southwest region chair urged Nigerians to be at rest as the commodity would not be out of reach for the masses. “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. “However, I have read what somebody put into the paper, 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 foreign exchange is N700 or N800 that has nothing to take the price of petroleum from N500 to N700.
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