Politics, Sports, Business, Entertainment and News you will get nowhere else.

Friday, 12 March 2021

PPPRA Deletes Template Announcing Petrol Price Increase



The Petroleum Products Pricing Regulatory Agency (PPPRA) has deleted a petrol pricing template announcing an increase in the retail price of petrol.


The Cable reports that the template, published on its website on Thursday night, was deleted on Friday morning amid the outrage over the price increase.

The template had said the recommended retail price is between N209.61 and N212.61 per litre. The landing cost of petrol was put at N189.61.

The ex-depot price, which is the rate marketers get the product, was fixed at N206.42.


The March template published by the PPPRA


Moments 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.

After visiting the link to the PPPRA twmplate, the Cable reports that it returned an error message: “Page not found (404). It seems we can’t find what you’re looking for. Perhaps searching can help.”


A screen shot of the section where the template was published


The PPPRA is an agency of government saddled with the responsibility of determining the price, monitoring and regulating the supply and distribution of petroleum products.



When Nigeria adopted the price modulation template in March 2020, Timipre Sylva, the minister of state for petroleum resources, said the agency will issue a monthly guide to NNPC and marketers on the appropriate pricing regime.

“The agency is further directed to modulate pricing in accordance with prevailing market dynamics and respond appropriately to any further oil market development,” Sylva said at the time.

No comments:

Post a comment

Disclaimer: Comments made by readers of this blog are strictly the views and opinions of the writers and not that of Nedu Echianu's Blog.

Credit is given to the original sources of culled stories, but in a situation where your story is wrongfully credited to someone else, please contact neduechianu@gmail.com for an immediate correction.

For eye witness reports, stories and features which you want published on this blog please contact me on +234-8037036168 or neduechianu@gmail.com.