IPMAN directs members to sell petrol at N162/litre


The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members in Nigeria’s Southwest to start selling the Premium Motor Spirit (PMS) popularly referred to as petrol at N162 per litre.

The Southwest Zonal Chairman of IPMAN, ‘Dele Tajudeen in a made this known during a telephone chat with journalists in Abeokuta, the Ogun State capital.

Tajudeen said IPMAN members would be left with no other option than to sell petrol at N162, following the Federal Government’s decision to increase the deport loading price of the product from N138.62 to N151. 56k.

This, he said would be the only means by which IPMAN members could meet up with the overhead cost.

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Tajudeen explained that IPMAN members would still have to consider operational costs in dispensing the petrol like running of generators with diesel to power the dispensing machines, likewise, settling the cost of transporting the fuel from the depot to their respective filling stations, while also paying statutory levies with the appropriate regulatory agencies.

All the running costs of doing the business by IPMAN members, Tajudeen said had justified the association’s decision to sell petrol at N162, as this he also said would enable IPMAN members to pay staff salaries, among others.