The Independent Petroleum Marketers Association of Nigeria (IPMAN) has refuted allegations of the association’s purported proposal to raise the pump price of Premium Motor Spirit (PMS), better known as petrol, to N700 per litre across the country.
Dele Tajudeen, Chairman of IPMAN Southwest Zone, made the clarification in an interview in Ibadan on Friday.
He asked Nigerians to ignore the rumors and avoid panic buying.
Tajudeen emphasized that the cost of the product will not be more than what is already being sold.
“I want to disabuse the people’s mind that they should not panic about it; there is no cause for alarm, we are in control and nothing like that.
“So, people should be assured that there is no way they can buy petrol more than the price it is being sold now.
“If we look at the price from NNPC retail limited, which is an integral part of NNPC limited, they have more advantages than independent marketers and major marketers.
” So, it was the retail price that they announced they had never given a specific price to the independent marketers.
“However, I have read what somebody put in the paper; it is just speculation and not a reality. Nothing like that; I want to assure the masses.
“There is no way the price can go to N700 as we speak because even if the FX is N700 or N800, that has nothing to take the price of petroleum from N500 to N700,” Tajudeen said.
He also praised President Bola Tinubu for eliminating the petrol subsidy, saying it was long overdue.
“Even in the PIA bill, it has been clearly stated that the subsidy must be removed. So, I want to commend him for removing the subsidy and say that we are in support. It is because the subsidy was a scam” he said.
