Independent Petroleum Marketers Association of Nigeria, (IPMAN) in Kano has directed its members to begin selling petrol between N168 and N170 per litre with effect from Friday.
That’s hours after a hike in petrol price was announced.
The Kano branch Chairman of petroleum marketers, Bashir Ahmad Dan’malam gave this directive in Kano at a press briefing on Friday.
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According to him the directives is in compliance with the Pipeline and Product Marketing Company (PPMC) circular, advising the petroleum marketers to sell petrol within the range of N168 per litre to N170 per litre after a review of the prevailing market fundamentals for the month of November 2020 with effect from Friday, 13th November 2020.
He added that the directive will affect states under Kano branch of the association which comprise Kano, Bauchi, Jigawa and Katsina.
Dan’malam added that, the circular dated 11th November, 2020 and signed by PPMC’s Manager Marketing Tijani Ali adding that the circular had revealed that PPMC’s ex-coastal price is N130 per litre while the ex-depot price is now N155. 17 per litre.
The directive is with effect from 13th November 2020.
“I call on all our members within our branch to immediately change the price of their litres from N160 per litre to between N168 and N170 per litre.
“This development came after we received a circular from PPMC, advising us on the upward review of the price after it reviewed the market fundamentals in the month of November 2020, ” he said.