Petrol marketers Finally agree to sell fuel for N123.50

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said they have agreed to sell petrol for N123 in compliance with government directive. IPMAN previously refused to reduce the Petroleum price due to a low level of appreciation to them by the Nigerian Government and even threatened to go on strike if the Govnt should punish any Petroleum distribution company that refuses to sell at the fixed price which was N123.50

“The National Executive Committee (NEC) of IPMAN once more commends the Federal Government of Nigeria for the further reduction of the pump price of PMS to between N123.50k and N125 per litre,” IPMAN president Sanusi Fari said in a statement.

“As law-abiding citizens, our members shall comply immediately.Retracting the earlier statement, IPMAN said they will sell for the new price “which will further lessen more burden on the masses.”

Fari said the previous reduction done by President Muhammadu Buhari in mid-March affected their members so much that they lost funds which did not go down well with members.

“Most members deal on borrowed funds from banks wuth Interests,” Fari said, “We had earlier pleaded then, that some time be given to us to exhaust the old stock which we did not get any response.”

Fari appealed to PPPRA and other relevant agencies to communicate with the association in future strategic decisions of such nature.