News
IPMAN Backtracks On Fuel Pump Price, Calls For End To Panic Buying
-
IPMAN said Nigerians should stop panic buying, saying that its members would sell PMS at government approved price of ₦165 per litre
- Explaining why the IPMAN Secretary in Lagos arrived at ₦180 per litre on Monday, the President said members could no longer operate at a loss
EDITOR’S PICK:
- 2023: Things To Know As APC Presidential Primary Begins Today (FULL UPDATE)
- Adamu Behind Plot To Make Lawan Presidential Candidate – APC Govs Allege
- APC Will Coast To Victory Again In 2023 – Buhari
EKO HOT BLOG reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has backtracked on the pump price of Premium Motor Spirit (PMS), otherwise known as petroleum.
The Association said Nigerians should stop panic buying, saying that its members would sell PMS at government approved price of ₦165 per litre.
President of the Association, Chinedu Okoronkwo spoke at a press conference on Wednesday at the backdrop of earlier indications by petroleum dealers that the pump price of ₦165 per litre was no longer sustainable.
He urged members of IPMAN to maintain the “status quo” of ₦165 per litre, particularly in Lagos where the Association Secretary, Mr Akeem Balogun on Monday declared a PMS pump price of ₦180 per litre.
According to him, the Nigeria National Petroleum Company Limited (NNPC) and the Petroleum Products Marketers Company (PPMC) have released petroleum products from their tank farms that could sustain the nation for the next 32 days, hence, there was no need for panic buying.
He said: “The Status quo ante must be maintained moving forward since the NNPC and the PPMC have responded positively by releasing products from their tank farms that can sustain the product needs of the country for 32 days.”
FURTHER READING
- Party Delegates Furious After Discovering They Were Bribed With Fake Dollars
- APC Announces 18 Sub-Committees Chairpersons To Elect 2023 Presidential Candidate [FULL LIST]
- You Need A Successor Who Can Protect Your Legacy – Orji Kalu Writes Buhari
Explaining why the IPMAN Secretary in Lagos arrived at ₦180 per litre on Monday, the President said: “The decision was taken because its members could no longer operate at a loss.
Click to watch our video of the week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
