Rumours that Nigeria will increase prices of petroleum products have become true as the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Kano State has directed its members to sell fuel at N150 per liter.
The directive was contained in a statement by the IPMAN Chairman of the Kano chapter, Bashir Danmallam.
He said the directive follows the new price modulation announced by the Petroleum Products Marketing Company (PPMC).
“I have accordingly, instructed our members in Kano to comply, by selling the product at N150 per litre,” he said.
He said the directive was also in compliance with the government’s earlier statement that it would review upward or downward the price of the commodity on a monthly basis, depending on the price at the international market.