The Independent Petroleum Marketers Association of Nigeria (IPMAN), Kano chapter, Tuesday reacted to the new price modulation announced by the Petroleum Pricing Regulatory Agency ( PPPRA) by instructing its members to comply with the advice of government immediately.
This information was contained in a press statement by the Kano IPMAN chairman, Alhaji Bashir Danmallam, a copy of which was made available to newsmen in Kano Tuesday.
He directed all marketers under his jurisdiction to comply with the new price modulation advice by making sure no one sells above the approved ceiling of N123.50K per litre.
The circular released by the Petroleum Products Pricing Regulatory Agency (PPPA) advised marketers to sell fuel (PMS) not above N123.50 per litre.
“After a review of the prevailing market fundamentals in the month of May and considering marketers’ realistic operating costs, as much as practicable, we wish to advise of a new PMS guiding pump price with corresponding ex-depot price for the month of June, 2020, as follows: Price Band: N121. 50 — B123. 50 per litre.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA,” the circular said.
Danmalam further assured the public of a steady supply and distribution of petroleum products at all times and in all circumstances.