NNPC Says Old Petrol Price Remains After Public Backlash

By Tosin Olatokunbo

The Nigerian National Petroleum Corporation has disclosed that petrol depot price has not changed, at least for the month of March . The clarification comes amidst public fears that marketers will begin to sell the product for N212 per litre, after the Petroleum Products Pricing Regulatory Agency, PPPRA announced on Thursday that the landing cost of the product has gone up.

 According to the PPPRA, based on the average cost for the period, February 1st to 28th 2021, and an average FMDQ Importer and Exporter (I&E) Naira/US Dollar Exchange Rate of N403.80, the expected retail price of PMS for March 2021, stands at N209.61 per litre and N212.61 per litre, being the lower and upper band respectively.