The Independent Petroleum Marketers Association of Nigeria (IPMAN) has allayed fears that there was a plan by the association to increase the pump price of Premium Motor Spirit (PMS), also known as petrol, to N700 per litre nationwide.
NAN reported that the Chairman of IPMAN Southwest Zone, Dele Tajudeen, made the clarification in an interview in Ibadan on Friday.
Tajudeen stated that the product’s price would not be more than the current price.
He said 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.
“I want to disabuse the people’s mind that they should not panic about it; there is no cause for alarm, we are in control and nothing like that.
“So, people should be assured that there is no way they can buy petrol more than the price it is being sold now.
“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.
” So, it 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 in the paper; it is just speculation and not a reality. Nothing like that; I want to assure the masses.
“There is no way the price can go to N700 as we speak because even if the FX is N700 or N800, that has nothing to take the price of petroleum from N500 to N700,” Tajudeen said.
Meanwhile, a coalition of Civil Society Organisations (CSOs) had vowed to resist the alleged planned increase in the pump price of petrol.
