SELL PETROL AT N162 PER LITRE- IPMAN ORDERS SOUTHWEST MARKETERS
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has ordered its members in the Southwest region to sell petrol at N162 per litre, several reports have said.
The directive is coming hours after the Pipeline and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), sent a memo to marketers stating an increase of fuel from N143 per litre to N151.56.
The southwest Zonal Chairman of IPMAN, Alhaji Dele Tajudeen told journalists in Abeokuta that the development would leave his members with no other option than to sell the produce at N162 per litre, multiple sources said.
The Chairman said the cost of logistics which includes funds used to run diesel that will power the generator, transportation, as well as other statutory levies, would have shot the price to N160. These, he said, has necessitated the need to sell at N162 to enable IPMAN members to make profits and pay staff bills.