Intervene to avert price hike – IPMAN tells FG as Dangote begins sale in dollars

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has warned that the prices of petrol, diesel and different petroleum volition spell up arsenic the Dangote Refinery commences the merchantability of refined products successful dollars.

IPMAN spokesperson, Chinedu Ukadike, spoke successful an interrogation with DAILY POST on Tuesday.

DAILY POST reports that Dangote Refinery has suspended income of gantry-refined petroleum products, including fuel, successful naira.

The determination signaled a halt to the naira-for-crude merchantability statement with the Federal Government, which started connected October 1, 2024.

Speaking connected the accusation of the development, Ukadike explained that what it means is that the terms of fuel, diesel and different petroleum products from Dangote Refinery volition present beryllium determined by the prevailing speech rate.

According to him, the caller pricing template by the refinery volition exposure retail prices to speech complaint pressures and volatility.

Ukadike urged the Federal Government, particularly the Presidential Committee connected Naira-for-crude sales, to instantly intervene earlier substance prices skyr...