The Independent Petroleum Marketers Association of Nigeria (IPMAN), has called on its members to immediately comply with the recent reduction in the price of Premium Motor Spirit (PMS).
The call followed the recent new price announced by the Petroleum Products Pricing Regulatory Agency (PPPRA), Alhaji Bashir Danmalam, the Chairman of the association in Kano, in a press statement on Tuesday in Kano.
According to him, all marketers under my jurisdiction should immediately comply with the new price modulation advice by making sure no one sells above the approved ceiling of N123.50 per litre.
He further assured the public of a steady supply and distribution of petroleum products at all times and in all circumstances.
Danmalam also commended the Federal Government for the development, and ensuring stable supply and distribution of the product, despite the lockdown occasioned by the COVID-19 pandemic.
He further prayed to God to bring the end of the challenge, while advising both the public and marketers to continue to observe all public health measures of personal hygiene and social distancing. Recently, PPPRA, had announced a slight reduction in the pump price of the PMS in the country.
In a memo containing the new price guideline for the month of June, titled ‘A.4/9/017/C.2/IV/70131’, the PPPPRA pegged the petrol pump price band between N121 to N123.50 per litre.
According to the agency, the ex-depot price band is now N100.13 and N108.13 per litre while ex-depot for collection is N108.78 and N111.78 per litre.