Business Economy

PPPRA reverses self, deletes template announcing petrol price increase

In the wake of the outrage that greeted the increase in the price of Premium Motor Spirit also known as petrol, the Petroleum Products Pricing Regulatory Agency, on Friday, deleted an earlier published template announcing that the new price of petrol has reached N212.6 per litre.

The deletion came hours after the agency published the template on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/, and after the Nigerian National Petroleum Corporation insisted that there was no increment in the ex-depot price of petrol.

The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.

According to the (now deleted) template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.

Details Later

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