IPMAN Urges Petrol Price Reduction Amid High Naira-to-Crude Exchange Rate.
The Independent Petroleum Marketers Association of Nigeria is seeking a reduction in petrol prices, amid over 23 million barrels of crude traded recently. The group's move comes as civil societies express discontent with the current pricing structure.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called for a reduction in the price of petrol across the country, amid the ongoing Naira-for-crude exchange rate arrangement. The association's move comes as civil society groups continue to push against what they describe as a "cabal" controlling the fuel pricing process. According to IPMAN, over 23 million barrels of crude oil were traded during the latest Naira-for-crude swap, underscoring the need for price adjustments. The pressure on the government to address rising fuel prices is mounting, with civil society groups and market associations urging a more transparent and equitable approach to pricing.
