IPMAN refutes report on fuel price increase


28 January 2017, Naija247news, Abuja – Nigeria’s  Independent Petroleum Marketers Association (IPMAN) in Kano State has told its members to disregard the rumour of a possible hike in the price of petroleum products.

According to the state IPMAN Chairman, Alhaji Bashir Dan-Malam, said on Friday that the warning was inevitable to avert hoarding and its attendant hardship on Nigerians.

Dan-Malam advised members in the state to continue with their normal business as the association would sanction anyone caught hoarding or selling the product above the approved price of N145.

“As leaders of the association, we feel it is necessary to tell our members the truth as the government has no plan to increase fuel price for now. The rumour is a lie and anything you hear that is not from us, ignore it.”

He said the recent meeting between the association and the Chief of Staff to the President, Malam Abba Kyari, Minister of Finance, Mrs. Kemi Adeosun, and Minister of State, Petroleum Resources, Dr. Emmanuel Ibe Kachukwu, which resolved that the union should go and reconcile with the Petroleum Equalisation Fund (PEF) on the outstanding payment of transportation charges was an indication that the Federal Government was ready to listen to their grievances and resolve them.

He said: “During the meeting, it was agreed that a committee, to be chaired by the Minister of Finance, Mrs. Kemi Adeosun, consisting of all stakeholders be set up with a mandate to reconcile all outstanding balances.

“The aim is to come up with a plan to clear all the issues that have plagued the sector.

“The administration has clearly demonstrated its willingness to create an enabling environment for a viable and sustainable downstream sector in Nigeria and IPMAN is 100 per cent committed to achieving this goal.”

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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