The Independent Petroleum Marketers Association of Nigeria (IPMAN), has directed its members to sell fuel at N150 per litre in Kano.
IPMAN Chairman Kano Branch, Bashir Danmallam, gave the directive in a stamen issued to newsmen in Kano on Wednesday.
According to the statement, the directive followed the new price modulation announced by the Petroleum Products Marketing Company (PPMC) and has accordingly instructed its members to comply by selling the product at N150 per litre.
‘’The directive was also in compliance with the government’s earlier statement that it would review upward or downward the price of the commodity on monthly basis depending on the price at the International market, said the statement.
Solacebase reports that the PPMC had in a memo signed by its Manager Sales, Mohammed Bello on Tuesday, August 4, 2020, fixed the ex-depot price of premium motor spirit, known as petrol at N138. 62 per litre.
The memo said, “Please be informed that the Management has approved ex-depot price of petroleum products including Premium motor spirit (petrol) at N138. 62 per litre.’’
The statement added that private depots had also increased their price as they would sell the commodity to their members at N139. 5 per litre
Bashir Danmallam, in the statement, asked all members under his jurisdiction to comply with the new price regime by making sure no one sells above the approved ceiling of N150 per litre.