With the Federal Government placing the price of Premium Motor Spirit( PMS) at N151. 56k, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in the Southwest region will now begin sales at N162 per litre as directed by the body.
According to Alhaji ‘Dele Tajudeen, the Southwest Zonal Chairman of IPMAN who spoke with journalists via telephone chat in Abeokuta, Ogun state, he stated that his members have no choice but to follow the directives and sell PMS otherwise known as petrol at the price of N162.
He explained that the push factor for the directive was hinged on the increase in the deport loading price of petrol which has pegged the new price of the product at N151.56k.
Furthermore, he stressed that in order to meet up with the overhead cost, IPMAN has no other choice than to begin sales at N162 as this will balance the motive of the Federal Government’s price which is N151.56k.
The task ahead for IPMAN members according to Tajudeen includes: providing for the cost of diesel to run generators that will power the dispensing machines, payment for the cost transporting fuel from the depot to their respective filling stations, and settlement of statutory levies with appropriate regulatory agencies.