Federal Government increases petrol pump price to ₦143 per litre

07/03/2020

Posted by: Oluwaseun Solomon

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Without any prior notice, the Federal government through PPPRA has just announced that the price of petrol fuel is now ₦143 per litre. Read the full update here!

While everyone has been happy so far with the current petrol pump price of ₦125 per litre, the PPPRA (Petroleum Products Pricing Regulatory Agency) has recently announced an unexpected increment to ₦143 with immediate effect. This news will definitely take everyone by surprise as it is coming just a few days after the federal government announced a temporary lift of interstate travel ban.

Filling-station

The Federal Government through the PPPRA has recently announced that Petrol fuel price is no more ₦125 per litre but ₦143

New press reports claim that the PPPRA made this disclosure in a recent circular sent to fuel marketers all over the country which is actually dated 1st of July, 2020.

While the decision might take many people by surprise and come as unexpected to fuel buyers; the reports are stating that the decision is actually in compliance with the monthly review process which has been approved by the federal government before now. Yes, this means that the PPPRA has the right to review the pump price of petroleum products every month and subsequently make adjustments whenever they feel its right.

>>> Related: NURTW threatens to increase transport fares as interstate travel resumes

Abdulkadir Saidu – the executive secretary of PPPRA in his recent statement said that this new Guiding price will come to immediate effect starting from July 1st and it’s expected to be applied by all the petroleum product retailers across Nigeria for this month of July. Below is a photo of the PPPRA circular confirming this new petrol pump price increment.

PPPRA-petrol-price-increment-circular

New PPPRA circular confirming the increment of petrol pump price from ₦125 to ₦143 per litre for the new month

Meanwhile, the federal government is continuing its second phase of lockdown ease amidst the COVID-19 pandemic. See press report video below:

 Coronavirus Pandemic: FG extends the second phase of eased lockdown by four weeks

>>> Keep visiting Naijauto daily to get the latest traffic updates.

>>> Also check out other topics: Car tips and adviceCar price updatesCar reviews, and Cars for sale!

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Oluwaseun Solomon

Oluwaseun Solomon

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Oluwaseun Solomon is a prolific and diligent automobile writer at Naijauto.com. He's also an experienced digital marketer and a creative multimedia developer that specializes in video editing. He currently contributes informative and easy to read articles on topics covering transportation, traffic updates, auto industry updates, and different car reviews.
When Solomon is not writing, you will either find him composing music, editing videos or simply enjoying YouTube "TEDx Talk" videos with a chilled drink :)

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