Why We Can’t Sell Petrol At Newly Reviewed N121.5 Per Litre–IPMAN

'Dotun Akintomide
Writer

Ad

Oil Prices Rally as the Geopolitical Risk Premium Rebuilds

Light crude oil futures rose for the week, closing Thursday at $63.52, up $1.54 or +2.48% from last Friday’s close, as geopolitical tensions, bullish inventory data, and renewed demand optimism drove a shift in market sentiment. The recovery followed two weeks of selling pressure and marked a return of bullish interest as supply-side risks reentered…

Japan designates Kisarazu as official hometown for Nigerians

In a landmark move to boost cultural ties and economic cooperation, the Government of Japan has designated the city of Kisarazu as the official hometown for Nigerians wishing to live and work in the country. The announcement was made on Thursday on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD9), held…

FG to raise N200bn through two bond offers at August auction

By Obinna Uballa The Debt Management Office (DMO) has announced plans to raise N200 billion through two Federal Government bond offerings scheduled for auction on August 25, 2025. According to a notice issued by the DMO on Friday, the subscription price for each bond is fixed at N1,000 per unit, with a minimum subscription requirement…

Ad

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said it can sell petroleum product at N123.5 per litre and not N121.5 new PPMC pump price.

IPMAN who reacted to the new price modulation announced by the Petroleum Pricing Regulatory Agency, PPPRA, says the agency has advised them to either sell at the new pump price or adjust to what will make Nigerians happy.

And as such, they accordingly instructed their marketers to comply with the advice of the government and adjust to N123.5 per liter pending the Deport Petroleum Marketers Association’s action on the new pump price.

This information was contained in a press release by IPMAN chairman, Kano chapter, Alhaji Bashir Danmallam in Kano.

Alhaji Bashir asked all marketers in his jurisdiction to comply with the new price modulation advice by making sure no one sells above the approved ceiling of 123.50 Naira per liter.

He further assured the public of a steady supply and distribution of petroleum products at all times and in all circumstances.

Ad

X whatsapp