CLICK IMAGE IF INTERESTED

FG increases petrol price to N212 per litre amid hardship being faced by Nigerians

The Petroleum Products Pricing Regulatory Agency (PPPRA) has hiked the retail price of petrol to N212.6 per litre.

The agency revealed this in a petrol pricing template published midnight Thursday on its website.

Advertisements

According to the template, the PPPRA’s recommended retail price of petrol to marketers is between N209.61 and N212.61 per litre.

The document showed that the landing price of the product is N189.61, while the expected ex-depot price, which is the rate at which the marketers get the product, is N206.42.

Advertisements

The increment ran contrary to the assurance given to Nigerians by the Nigerian Petroleum Corporation (NNPC) that the ex-depot price would remain unchanged for March as it had enough products in stock to last 40 days.

READ THIS
How I cemented my friendship with Aliko Dangote- Bill Gates reveals

This, the corporation said, was “in order not to jeopardise ongoing engagements with organised labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship”.

However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the PPPRA has not notified the association via its usual memo to increase the retail price of the product.

READ THIS
Buhari orders complete reopening of all unity schools

“I was in a NEC meeting with the NNPC and state governor’s yesterday (Thursday). They only complained of the soaring prices of crude oil. They have not asked us to increase pump price,” IPMAN National Vice President Alhaji Abubakar Maigandi, said, according to The Nation.

Advertisements
Advertisements
READ THIS
COVID-19: FG gives students free subscription

NOTICE!

Click HERE  let’s have your story! Thanks as you support us by sharing this post.

CLICK IMAGE IF INTERESTED

COMMENTS...