The Deputy President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Zarama Mustapha, said the price of fuel can’t fall below N500 per litre.
Mustapha, during an interview with Channels TV on Thursday, disclosed that this is due to the Nigerian National Petroleum Company (NNPC) Limited being the sole importer of refined oil into Nigeria.
His statement followed the increase in fuel price by the NNPC on Wednesday. The NNPC adjusted the price to N500 and above from N189 per litre.
