Nigerian government increases petrol pump price

Nigerian government increases petrol pump price

The Petroleum Products Pricing Regulatory Agency (PPPRA) has increased the pump price of petrol to N140.80/143.80 per litre from N121.50 per litre.

PPPRA announced the new retail price band to marketers in a letter dated July 1, 2020.

The letter was signed by its Executive Secretary, Abdulkadir Saudi.

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“After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – 143.80/litre for the month of July 2020,” part of the letter read.

The pump price of petrol was on June 1, 2020, reduced to N121.50 per litre from N123 per litre.

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