The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a 50k reduction in the pump price of petrol.
According to a statement released by Farouk Ahmed, executive secretary of the agency, the commodity, which officially sold for N87/litre, will now sell for N86.50k/litre.
“The Petroleum Products Pricing Regulatory Agency (PPPRA) hereby announces the implementation of the revised components of the Petroleum Products Pricing template for Premium Motor Spirit (PMS) and Household Kerosene (HHK),”
“This followed the approval of the minister of state for petroleum resources, dr. Ibe Kachikwu, for the implementation of the revised template. “The major components of the pricing template affected by this review are Traders Margin, Lightening Expenses, Nigerian Ports Authority, Jetty Throughput and Storage Charges, as well Bridging Fund