The Independent Petroleum Marketers Association of Nigeria, IPMAN, Kano chapter, has directed its members to sell Premium Motor Spirit, otherwise known as petroleum at N150 per litre.
The directive was contained in a statement by the Chairman Kano chapter of IPMAN, Bashir Dan-Mallam, a copy of which was made available to Daily Tracker on Wednesday.
He said the directive followed the new price modulation announced by the Petroleum Products Marketing Company, (PPMC) and had accordingly instructed its members to comply by selling the product at N150 per litre.
According to him, the directive is also in compliance with the government’s earlier statement that it would review upward or downward prices of the commodity on monthly basis depending on the price at International market.
“Please be informed that the Management has approved ex-depot price of petroleum products including Premium motor spirit (petrol) at N138. 62 per litre,”the statement said.
Similarly, he said, the private depots had also increased their price as they would sell the commodity to their members at N139. 5 per litre.
He asked all members under his jurisdiction to comply with the new price regime by making sure no one sells above the approved ceiling of N150 per litre.
Mr Dan-Mallam assured the public of availability of the petroleum products at all times.
Recall that the PPMC had in a memo signed by its Manager Sales, Mohammed Bello on Tuesday, August fixed the depot price of premium motor spirit, known as petrol at N138. 62 per litre.
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