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Friday Olokor and Okechukwu Nnodim
Published 14 March 2021
Published 14 March 2021
…Expect rise in petrol price soon – Oil marketers
Nigerians may pay an increased sum of about N12.61bn every month for the purchase of petrol should the Federal Government implement the N212.61/litre price published by the Petroleum Products Pricing Regulatory Agency on Thursday night.
Going by this, users of petrol across the country may need to pay as high as N37.83bn quarterly for the purchase of the commodity if the government enforces the recently published price.
PPPRA had published the expected new lower and upper prices for petrol at retail outlets, putting the rates at N209.61/litre and N212.61/litre respectively.
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•Motorists queue for Premium Motor Spirit on the outer northern expressway in Abuja. on Friday. Photo: NAN
Published 13 March 2021
Panic buying of Premium Motor Spirit, popularly known as petrol, and long queues of vehicles were witnessed at many filling stations across many states in the country on Friday after a reported increase in pump price from N162 to N212.16 by the Petroleum Products Pricing Regulatory Agency.
The PPPRA had early Friday published the expected new lower and upper prices for PMS at retail outlets, putting the rates at N209.61/litre and N212.61/litre respectively.
• NNPC Assures Of Adequate Supply Of Product
• PPPRA Deletes Template Announcing N212.68 /Litre Pump Price
• Hike Can Attract Mass Protest, PDP Cautions
In what appeared to be the most uncoordinated situation by agencies under the Ministry of Petroleum Resources, headed by President Muhammadu Buhari, confusion, panic-buying and an attempt to profiteer by marketers ruled the pump price of Premium Motor Spirit (PMS), otherwise called petrol, yesterday, following a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA), which increased petrol pump price to N212.68 per litre. x
Long queues, traffic jam, an increase in the cost of transportation and the immediate shutdown of most petrol stations were the result of the situation across most parts of the country. However, the Minister of State for Petroleum Resources, Timipre Sylva, Nigerian National Petroleum Corporation (NNPC) and PPPRA tried to manage the situation, in
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