Abdulkadir Saidu, the executive secretary of the Petroleum Product Pricing Regulatory Agency (PPPRA) has advised and announced an increase in the retail price of petrol from the N121.50.
Speaking via a new statement, the ideal retail price for petrol should now be between N140.80 and N143.80.
The statement reads in part: “Please recall the provision for the establishment of a monthly price band within which petroleum marketers are expected to sell PMS at the retail stations, based on the existing price regime”.
“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 – N143.80/litre for the month of July 2020.”
via: Information Nigeria