Don’t panic, no plans to increase fuel pump price to N700 – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied the alleged plan by the association to increase the pump price of Premium Motor Spirit (PMS), also known as petrol, to N700 per litre nationwide. NAN reported that the Chairman of IPMAN Southwest Zone, Dele Tajudeen, made the clarification in an interview in Ibadan on Friday. He urged Nigerians to disregard the speculation and not engage in panic buying. Tajudeen stressed that the product’s price would not be more than what is being sold presently. He commended President Bola Tinubu for removing the subsidy on petrol, adding that 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 the slight increase in pump price was because of the transportation cost and that Nigerians should be at rest as the commodity will not be out of reach...