NNPC Insists No Increase In Petrol Depot Price, As PPPRA Deletes Petrol Increase Template

 

The Nigerian National Petroleum Corporation (NNPC) has insisted there is no increment in the ex-depot price of Premium Motor Spirit also known as petrol.

This is despite a template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) that the new price of petrol has reached N212.6 per litre.

The PPPRA however deleted the new template on its website checks by The NATION has shown.

The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.

The NNPC ruled out any increment in the ex-depot price on Friday in a terse tweet via its verified Twitter handle, @NNPCgroup.

It tweeted: “#NNPC Insists No Increase in Ex-Depot Price of PMS in March.”

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

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

In the same vein,PPPRA Deletes Petrol Increase Template On Website

The Petroleum Products Pricing Regulatory Agency (PPPRA) has deleted a template announcing the new price of petrol stands N212.6 per litre from its website.

The agency had published the template on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/.

The publication was greeted with outrage across the nation with fuel queue observed in several filing stations in Abuja and Lagos.

The template released midnight indicated petrol is to sell at a lower retail price of N209.61 and at an upper retail price of N212.61.

The expected ex-depot price is N206.42, while the landing cost is N189.61.

The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots.

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

But the PPPRA, without any explanation in a way seen by many as a U-turn, deleted the template hours later.

According to The Nation “When The Nation checked around 10:58am, the website page indicated ‘Page not found 404’.”