Kano IPMAN orders members to sell petrol at N123.5 per litre

The Kano State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Tuesday, directed its members to adopt the latest fuel pump price modulation released by the Petroleum Products Pricing Regulatory Agency (PPPRA) forthwith.

In a statement issued in Kano by Bashir Danmallam, chair of IPMAN, Kano State chapter, the association informed all fuel marketers to enforce the new policy by ensuring that the pump price of gasoline does not exceed the N123.50 per litre cap.

“After a review of the prevailing market fundamentals in the month of May and considering marketers’ realistic operating costs, as much as practicable, we wish to advise of a new PMS guiding pump price with a corresponding ex-depot price for the month of June 2020, as follows: Price Band: N121. 50 — N123. 50 per litre,” PPPRA had said in a new circular announcing a new price regime.

Read also: Nigerian govt reduces petrol pump price to N121.5

It similarly designed new price bands of between N102.13 – N104.13 per litre for ex-depot price of fuel, and between N109.78 – N111.78 per litre for its ex-depot price for collection.

“All marketers are advised to operate within the indicative prices as advised by the PPPRA,” the circular further read.

Mr Danmallam promised that regular availability and distribution of petroleum products would be made to the public at all times and in all circumstances.

He enjoined marketers and the public to comply with public health standards of personal hygiene and social distancing in order to contain coronavirus spread.

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