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PPPRA Makes U-Turn, Deletes Template Announcing Fuel Price Hike

Amid outpour of anger by Nigerians over the hike in the price of Premium Motor Spirit also known as petrol, the Petroleum Products Pricing Regulatory Agency, PPPRA on Friday made a dramatic U-Turn and deleted an earlier published template which had announced the new price of petrol as 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.

PPPRA released the now deleted template midnight, announcing that 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.

The expected ex-depot price, as seen in the template, was N206.42, while the landing cost is N189.61.

With ex-depot price standing at N206.42 per litre, the March template (now deleted)  showed that the landing cost for petrol per litre is N189.61.

However, the PPPRA hours later deleted the template.

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