#PetrolPriceHike: Nigerians Furious At N212 Per Litre Increment

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Angry reactions have started to trail the Federal Government’s announcement of a hike in the retail price of petrol to N212.6 per litre.

The Herald had reported that the Petroleum Products Pricing Regulatory Agency (PPPRA) made the announcement in a petrol pricing template published midnight Thursday on its website.

According to the template, the PPPRA’s recommended retail price of petrol to marketers is between N209.61 and N212.61 per litre.

The document showed that the landing price of the product is N189.61, while the expected ex-depot price, which is the rate at which the marketers get the product, is N206.42.

The announcement came despite assurances given to Nigerians by the Nigerian Petroleum Corporation (NNPC) that the ex-depot price would remain unchanged for March as it had enough products in stock to last 40 days.

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However, this newspaper also reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the PPPRA has not notified the association via its usual memo to increase the retail price of petrol.

Meanwhile, some Nigerians took to social media, especially Twitter, to vent their frustration with the increment.

Read comments monitored by this reporter on Twitter…

 

 

 

 

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