The independent Petroleum Marketers of Nigeria (IPMAN), has directed its members to begin with selling petrol at N162 per litre.
This is coming barely 24 hours after the Pipelines and Product Marketing Company (PPMC), announced that the new pump price be sold at N151.62.
The Depot Manager of the Pipelines and Product Marketing Company (PPMC), D.O Abalaka, signed a memo which reads;
“Please be informed that a new product price adjustment has been effected on our payment platform. To this end, the price of premium motor spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56) per litre. This is effective 2nd September 2020.”
However, the South West Zonal Chairman of IPMAN, Dele Tajudeen stated that the association had instructed its members to dispense the product at N162 per litre.
While explaining to journalists via a telephone call in Abeokuta, he stated that since the government had decided to put the price of the product at N151. 56k per litre, IPMAN has no option than to sell at N162 to be able to meet up with the overhead cost.