PPPRA pulls down petrol price hike announcement


The Petroleum Products Pricing Regulatory Agency (PPPRA) has removed a petrol pricing template that announced a retail price rise in petrol.

The template, which was posted on the company’s website on Thursday night, was taken down on Friday morning in the wake of the outcry over the price hike.

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The suggested retail price per litre, according to the template, is between N209.61 and N212.61. The landing cost of gasoline was estimated to be N189.61.

The ex-depot price, or the price at which marketers receive the commodity, was set at N206.42.

Meanwhile, earlier today, after the increase was announced, the Nigerian National Petroleum Corporation (NNPC) insisted there will be no increase in the ex-depot price of petrol in March.