UPDATE: NNPC Insists No Increase in Ex-Depot Price of Petrol
In reaction to the social media trend #FuelPriceHike, the Nigerian National Petroleum Corporation (NNPC), has said that there is no increment in ex-depot price of petrol.
NNPC made this known on their official Twitter handle. It reads “#NNPC Insists No Increase in Ex-Depot Price of PMS in March,”
This is also in reaction to a template released by the Petroleum Products Pricing Regulatory Agency (PPRA) showing that the new price of petrol has reached N212.6 per litre. The agency had published the template on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/.
According to the template which the PPPRA released and later deleted, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. A publication which was met with outrageous outcry across the nation.
The NNPC had earlier promised that the petrol price would remain static 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.