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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged marketers to comply and sell at the new pump price of N162.44.
National Public Relations Officer, Suleiman Yakubu, said the association was in support of the decision by government and labour which is in the interest of Nigerians.
“We support the government and its policy, as we also know that government has its citizens’ welfare at heart. The oil and gas business has been unstable since the pandemic started,”Yakubu said.
Federal Government has agreed with the organised labour unions to reduce the pump price of Petroleum Motor Spirit (PMS) by N5 with effect from Dec. 14.
A survey indicated showed that major marketers across the country werre yet to adjust to the new price.
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Since April, the Petroleum Products Pricing Regulatory Agency (PPPRA) had continued to issue monthly pricing directive on PMS to the marketers.
In June, there was a slight reduction as the price was fixed at N121.50 per litre, from N123.50 in May.
The July price was N20.30 higher than the June price of N121.50 per litre.
November price was from N160 per litre to between N166 and N170 per litre.
