The Petroleum Products Pricing Regulatory Agency, PPPRA, has declared that its publication of monthly template, does not amount to increasing the price of petroleum products, as such increase is supposed to be determined by market forces, under the current deregulation.
Vanguard News
Updated: FG apologises to Nigerians over N212.61 per litre new petrol price
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By Udeme Akpan
The Federal Government, Friday, apologized to Nigerians over the latest N212.61 petrol price confusion in the country.
Speaking at the groundbreaking for the Rungas composite cylinder manufacturing plant in Alaro City Free Zone, Epe, the Minister of State for Petroleum Resources, Mr Timipreye Sylva, urged Nigerians to disregard the increase, explaining that it was a mix-up.
Meanwhile, the Petroleum Products Pricing Regulatory Agency, PPPRA, has declared that its publication of monthly template, does not amount to increasing the price of petroleum products, as such increases are supposed to be determined by market forces, under the current deregulation of the sector.
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Breaking: PPPRA clears air, says template does not amount to increasing petrol price
On
By Udeme Akpan
THE Petroleum Products Pricing Regulatory Agency, PPPRA, has declared that its publication of monthly template, does not amount to increasing the price of petroleum products, as such increase is supposed to be determined by market forces, under the current deregulation.
In a statement obtained by Vanguard, Friday, Executive Secretary, PPPRA, Abdulkadir Saidu, stated: “The PPPRA by this release wishes to state clearly that the Guiding Prices posted on our website was only indicative of current market trends and do not translate to an increase in the pump price of PMS. However, publications by the media to this effect have been misconstrued and thus misleading.
Fuel price: Template does not amount to increasing price ― PPPRA vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
Happening Now: Motorists besiege Abuja stations as petrol sells for N212/litre
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By Obas Esiedesa
Petrol queues re-emerged in Abuja, the nation’s capital and its environs on Monday, following the release of a new petrol pricing template by the Petroleum Products Pricing Regulatory Agency, PPPRA, with most stations selling above N200 per litre.
Despite assurances by the Nigerian National Petroleum Corporation, NNPC that there would be no increase in ex-depot price, the new N212.61 per litre template triggered massive rush to filling stations by motorists.
Checks around adjoining towns showed that most stations had adjusted their pump price to between N200 and N212 per litre.