The Independent Petroleum Marketers Association of Nigeria (IPMAN), Kano has directed its members to sell fuel at N150 per litre.
The directive was contained in a statement issued and signed by the IPMAN chairman, Kano chapter, Bashir Danmalam.
According to the statement, the directive is in compliance with the new price modulation announced by the Petroleum Products Marketing Company (PPMC), which announced the new pump price.
The statement added that the directive was also in compliance with the government’s earlier statement that it would review upward-downward price of the commodity on monthly basis depending on the price at international market.
“This is in compliance to PPMC’s memo signed by its Manager Sales, Mohammed Bello, on Tuesday, August 4, 2020 which fixed the depot price of premium motor spirit, known as petrol, at N138. 62 per litre,” it stated.
The statement further revealed that the private depots have also increased their price as they would sell the commodity to their members at N139. 5 per litre.
It also asked all members under the Kano State chapter of IPMAN to comply with the new price regime by making sure no one sells above the approved ceiling of N150 per litre.
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