Petrol Price Increased To N212.61 Per Liter
-The petrol price has been increased to N212.61 for the month of march
-This was disclosed by Petroleum Products Pricing Regulatory Agency (PPPRA) in their monthly update
-The Nigerian National Petroleum Corporation (NNPC) had said the price would remain the same in March
The Products Pricing Regulatory Agency (PPPRA) has announced that a liter of petrol will cost N212.16 from March onward.
This is a N26 increase in the retail price of the commodity from February.
The PPPRA announced that the landing cost of fuel in March is N189.61 as opposed to N163.74 in February.
The petrol price increase comes less than a day after President Muhammadu Buhari promised to reduce the price to N100.
The NNPC had also issued a statement on March 1, stating that they will be no hike in the price.
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NNPC said that Nigeria has enough fuel to last for weeks and urged Nigerians to stop hoarding.
Before Buhari’s assumed office in 2015, fuel was priced at N87 and it has been increased periodically since then.
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