Benefits Of Fuel Price Hike Almost Here – IPMAN

Independent Marketers Association of Nigeria (IPMAN) has said that the country would start reaping the benefits of the new pump price of Premium Motor Spirit, PMS, also known as petrol as from next month.

President of IPMAN, Mr. Obasi Lawson told newsmen in Abuja that over 7,000 tickets of PMS cargoes worth more than N20 billion were tied up in the NNPC system, but with the new policy in place, the pending cargoes would be easily released.

He said it was important that the market be opened up for other stakeholders, due to the fact that the NNPC cannot meet up with petrol supply requirements in the country.

“The new policy of the Federal Government that effected the change in price of PMS is a welcome development. We members of IPMAN welcome the policy because it is going to bring about total liberalisation and also engender competition in the industry.

“We have also put arrangement in place to import petroleum products so that we can serve our members. The policy is a good development so the issue of strike should be ignored. In fact, we are calling on all our members to go about their normal businesses and keep their petrol stations open,” Lawson said.