“No Plans To Increase Fuel Price” – IPMAN Reiterates  

Independent Petroleum Marketers Association of Nigeria, IPMAN, has cleared the air on the rumoured fuel price increase.

Speaking on Thursday during a Channels Television interview National Vice President Hammed Fashola said there is no fuel pump increase.

According to him, the claim made in some sections of the media that IPMAN hinted at a fuel increase to N1,200 per litre was not from the Association.

IPMAN backed the National Nigerian Petroleum Company Limited’s appeal for Nigerians not to panic buy fuel Nationwide as the product is available.

“As far as IPMAN is concerned, there is no plan to increase fuel pump price increase. There is no basis for that for now; equally, there is no signal from NNPCL on fuel price increment. I want to use this opportunity to stop panic buying because there is nothing like a fuel price increase; it is just a rumour.
“The information on fuel increase to N1,200 per litre is not from IPMAN”, he stated.
He explained that NNPCL is the major importer of fuel into the country.
“IPMAN gets the product from NNPCL. As long as we get the product at the old price from NNPCL, the price will remain unchanged”.

NNPCL had earlier refuted the claim of fuel price increase.

The company’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed this in a statement on Wednesday through X handle.

“NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.
“Motorists nationwide are advised against panic buying, as there is ample availability of PMS across the country”, the statement reads.