Categories: Latest News

Outrage as marketers order members to sell petrol at N162 per litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has ordered its members in the South-West States to sell Premium Motor Spirit (PMS) aka Petrol at N162 per litre.

The Zonal Chairman of IPMAN, ‘Dele Tajudeen, made the announcement to journalists in Abeokuta, Ogun State, on Wednesday.

He said the development followed the increase in the depot loading price of the product by the federal government.

Tajudeen stated that IPMAN has no option than to sell at N162 to be able to meet up with the overhead cost.

He explained members would have to make provision for the cost of diesel to run generator that power dispensing machines.

The chairman added that they will also incur a higher cost of transporting the fuel from the depot to filling stations and settle statutory levies with regulatory agencies.

Treasure Orokpo

A multi-talented individual with a passion for diverse fields, Treasure Orokpo is a trained journalist, skilled cook, and AI enthusiast. When she's not uncovering the latest stories, you can find her whipping up culinary creations in the kitchen and entertainment.

Recent Posts

Soaring rice prices threaten Christmas celebrations for Nigerian families

Rice, a staple for Christmas celebrations in Nigeria, has become a luxury this year. Soaring…

1 day ago

Panic as Stage collapses during Odumodublvck’s performance at Lagos concert

Panic erupted on Saturday at a concert in Lagos when the stage collapsed during Odumodublvck’s…

1 day ago

2025 Budget: FG allocates ₦6.36bn for renovation of Tinubu, Shettima’s official quarters

The Federal Government of Nigeria has allocated ₦6,364,181,224 billion for the refurbishment and rehabilitation of…

1 day ago

Black Market Dollar to Naira Exchange Rate Today 22nd December 2024

The black market dollar to naira exchange rate for today, 22nd December 2024, can be…

1 day ago

NNPC debunks shutdown rumors, confirms fuel loading at Port Harcourt Refinery

The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that the 60,000 barrels per…

1 day ago

‘We have to find a way’ – Guardiola laments after defeat to Aston Villa

Manchester City finds itself in unprecedented turmoil, with relegation-level form showing little sign of improvement.…

1 day ago