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Home Government

IPMAN Warns Of Pump Price Increase

Nnaemeka OkwarabyNnaemeka Okwara
July 23, 2024
in Government
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IPMAN Warns Of Pump Price Increase
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IPMAN, the Independent Petroleum Marketers Association of Nigeria,  has currently said Nigerians should brace up for another pump price hike. This warning was anticipated due to the global price of petrol that has risen to a landing Cost of N1,117 per litre as of Wednesday, according to the Major Energies Marketers Association of Nigeria (MEMAN).

IPMAN’s Secretary, Mohammed Shuaibu, also corroborated the figures and blamed the emerging spike in the price on actors of demand and supply in the global markets.

He noted that while the Nigerian National Petroleum Company Limited (NNPCL) and the Federal government may not be more forthcoming regarding the manner in which the money is being spent, the matter of fuel subsidies is public knowledge.

 

IPMAN said that the federal government lied by claiming that it has removed fuel subsidies while billions of naira are paid monthly as subsidies. However, this directly contradicts what the government has been saying. The association said fuel subsidy expenditure may hit N700 billion monthly.

Tags: federal characterincreaseIPMANIPMAN Warns Of Pump Price IncreaseNewsNigeriaPump Price
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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