– A top market official has spoken out on the petrol
price increase
– Alhaji Abubakar Maigandi of IPMAN said the price
raise will end the fuel scarcity crisis
– The move to increase petrol prices has been met
with widespread controversy in Nigeria
Alhaji Abubakar Maigandi, the Vice President of the
Independent Marketers Association of Nigeria (IPMAN), has
commended the Federal Government for increasing the
pump price of petrol.
Maigandi said on Wednesday in Abuja that the decision
would help to put to an end the persistent petrol scarcity in
the country.
“This is a good development; the best that will happen is
complete removal of the subsidy,” Maigandi said.
“The price they put is a good one, but the best thing is to
leave the market open so that people will decide what they
want to sell after importation.”
Fuel scarcity has long been a major problem in Nigeria

He assured that the products would be available with this
development, adding that the association was ready to
continue to support government’s effort.
The Petroleum products Pricing Regulatory Agency (PPPRA)
has announced a new pump price of N145 per litre for
petrol.
According to a statement signed by Mrs Sotonye Iyoyo, the
Acting Executive Secretary of PPPRA, the new price would
take immediate effect “In furtherance of its mandate to
ensure the efficient supply and distribution of petroleum
products, PPPRA hereby announces, effective immediately,
that the new price band for PMS shall be at a maximum of
N145 per litre.”
“However, NNPC retail stations on the outskirts of major
cities are advised to sell at price lower than N145 per litre.”

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