ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

JUST IN: FG raises petrol price above N200

by Usman Kadri
March 12, 2021
Reading Time: 2 mins read
JUST IN: FG raises petrol price above N200
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

The Nigerian government has increased the pump price of petrol to N212.61 a litre, less than two weeks after assuring the nation there would be no hike.

The Petroleum Products Pricing Regulatory Agency (PPPRA) announced late Thursday that the retail price for a litre of petrol for the month will be between N209.61 and N212.61.

The ex-depot price, which is the amount sold by fuel depot owners to marketers, will be N206.42, while the landing cost stands at N189.61 per litre, the agency said.

RELATED STORIES

Support for Tinubu in 2023 election was never to gain anything, says El-Rufai

El-Rufai: We will make sure Tinubu returns to Lagos by 2027

May 21, 2025
Fidelity Bank CEO’s strategic share acquisition signals strong confidence in tier-one lender

Fidelity Bank CEO’s strategic share acquisition signals strong confidence in tier-one lender

May 21, 2025

The announcement comes amid a partial scarcity of fuel that has lingered for weeks.

There had been concerns the government, which says it has deregulated the sector and no longer pays subsidy, would raise rates as crude oil prices have seen a rebound in the global market.

The state-owned NNPC, which regulates the sector and is the sole importer of refined petrol, however, assured there was no such plan for February and March.

On March 1, the NNPC said in a statement by its Group General Manager, Group Public Affairs Division, Kennie Obateru, that contrary to speculations of imminent increase in the price of petrol in the country, there would be no increment in the ex-depot price of petrol in March.

It said: “The Corporation was not contemplating any raise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.”

Reliable source said the scarcity in Abuja, Lagos and other cities was caused by depot owners hoarding the product, and raising prices in anticipation of a hike by the government.

The new prices are expected to promptly impact on cost goods and services with inflation at a three-year high, making it harder for more people to afford food and other basic needs.

Next Post
WEMA Bank hosts Webinar to mark IWD 2021

WEMA Bank hosts Webinar to mark IWD 2021

More Articles...

Support for Tinubu in 2023 election was never to gain anything, says El-Rufai

El-Rufai: We will make sure Tinubu returns to Lagos by 2027

May 21, 2025
Testimonies galore as Apostle Suleman ends two-day ‘Recovery Conference’ in Canada

Testimonies galore as Apostle Suleman ends two-day ‘Recovery Conference’ in Canada

May 21, 2025
Fidelity Bank CEO’s strategic share acquisition signals strong confidence in tier-one lender

Fidelity Bank CEO’s strategic share acquisition signals strong confidence in tier-one lender

May 21, 2025
Five TV shows and movies you just have to see this week

Five TV shows and movies you just have to see this week

May 20, 2025
Court Orders Final Forfeit 20 'Stolen' Cars From Canada

Court remands Premium Trust Bank Manager, 4 others over alleged hacking into bank’s server

May 20, 2025
Time Magazine names Aliko Dangote among top 100 philanthropists in the world

Time Magazine names Aliko Dangote among top 100 philanthropists in the world

May 20, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport