The Independent
Petroleum Marketers Association of Nigeria (IPMAN) has officially refuted any
plans to hike the price of Premium Motor Spirit (PMS), also known as petrol, to
N700 per liter at the pump liter across the country.
Dele Tajudeen, the
Chairman of IPMAN Southwest Zone, clarified this in an interview in Ibadan on
Friday, refuting the rumors and calling on Nigerians not to engage in panic
buying.
Tajudeen emphasized that the price of petrol would
remain unchanged and would not exceed the current rate. He applauded President
Bola Tinubu for removing the subsidy on petrol, stating that it was a long overdue
decision. According to Tajudeen, even the recently passed Petroleum Industry
Act (PIA) explicitly stipulated the removal of subsidies. He commended the
removal, considering the subsidy to be a fraudulent scheme.
He explained that the reason for the small increase in the pump
price was due to transportation expenses. He reassured Nigerians that the
commodity would remain affordable for the masses and urged them not to panic.
He stressed that there was no cause for alarm, as IPMAN was in control of the
situation and would ensure that the price did not exceed the current level.
Tajudeen further explained that the retail price
announced by NNPC Retail Limited, an integral part of NNPC Limited, had certain
advantages over independent marketers and major marketers. He clarified that
the retail price did not specify a particular price for independent marketers.
Therefore, he dismissed the speculation circulating in the media as unfounded
and assured the public that the price of petrol would not get to N700 per liter.
Meanwhile, a coalition of Civil Society
Organizations (CSOs) has expressed its determination to challenge any alleged
planned increase in the pump price of petrol. The CSOs are committed to
advocating for the interests of the public and ensuring that any potential
price hike is thoroughly scrutinized.