The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to deregulate the oil and gas sector, to stabilise the prices of petroleum products in the country.
IPMAN’s National Secretary, Alhaji Danladi Pasali, gave the advice in an interview on Friday in Abuja.
He said the deregulation of the oil and gas sector would enable more marketers to participate, thus reducing the prices of the products.
“We want competition in the business, it will help us explore.”
Pasali also advised Nigerians to shun rumours about fuel price hike, adding that the landing cost of the Premium Motor Spirit, popularly known as petrol, was N206.
According to the association’s scribe, petrol is still being sold at the old price of between NI62 and N163 per litre, as there is enough products in stock.
The official urged their members to continue to sell at the N162 or N163 official rate.
Pasali, however, lauded the government for its constant support, adding that the independent marketers would continue to support the government’s initiatives.
Retail outlets between Wuse, Gwarimpa, Wuye and Kubwa expressway in Abuja still sell at the old rate.
Reacting to the new PMS pricing template of N212.6k per litre for March, as released by the Petroleum Products Pricing Regulatory Agency (PPPRA), the NNPC warned the public against panic buying.
The NNPC said it had no plans to increase its ex-depot price.
