The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied the supposed arrangement by the relationship to build the siphon cost of PMS, otherwise called petroleum, to N700 per liter across the country.
He advised Nigerians not to buy in a panic and to ignore the speculation.
Tajudeen focused on that the item's cost wouldn't be more than whatever is being sold by and by.
He complimented President Bola Tinubu for eliminating the endowment on petroleum, it was very much past due to add that it.
“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 stated that the cost of transportation was the reason for the slight increase in the pump price and that Nigerians should rest assured that the commodity will remain affordable to the general public.
“I want to disabuse the people’s mind that they should not panic about it; there is no cause for alarm, we are in control and nothing like that.
“So, people should be assured that there is no way they can buy petrol more than the price it is being sold now.
“If we look at the price from NNPC retail limited, which is an integral part of NNPC limited, they have more advantages than independent marketers and major marketers.
” So, it was the retail price that they announced they had never given a specific price to the independent marketers.
“However, I have read what somebody put in the paper; it is just speculation and not a reality. Nothing like that; I want to assure the masses.
“There is no way the price can go to N700 as we speak because even if the FX is N700 or N800, that has nothing to take the price of petroleum from N500 to N700,” Tajudeen said.
During this time, a group of Civil Society Organizations (CSOs) had pledged to oppose the alleged planned increase in the price of gasoline at the pump.
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