FG Hikes Petrol Price To N212 Per Litre - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Friday 12 March 2021

FG Hikes Petrol Price To N212 Per Litre

FG Hikes Petrol Price To N212 Per Litre

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.

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.

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.

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.

“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.

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on UjuAyalogusBlog.com by clicking here. For Advert Inquiries Tel: +44 (0)7590 363 984.

For More, Subscribe To: Uju Ayalogu's Blog Posts via Email.

Subscribe to Our Posts via Email

Share This

No comments:

Post a Comment

Listen to This Beautiful New Talent - Winter Wolf - Singing "Midnight"

Post Bottom Ad