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#FuelPriceHike: NNPC clarifies no increase in depot price of fuel March 2021

*The Nigerian National Petroleum Corporation clarifies that there is no increment in the ex-depot price of petrol March 2021

Alexander Davis | ConsumerConnect

Against the backdrop of expressed anger and regret by cross-sections of Nigerian consumers over an alleged increase in the pump price of Premium Motor Spirit (PMS) also known as petrol to N212.61 per litre by the Federal Government, the Nigerian National Petroleum Corporation (NNPC) again, has clarified that there is no increment in the ex-depot price of petrol in March 2021.

The state oil firm made this clarification Friday, March 12 via a post on its official Twitter account @NNPCgroup.

The Corporation stated: “#NNPC Insists No Increase in Ex-Depot Price of PMS in March.”

Earlier, Nigerians had reacted to the trend on social media with the hashtag #FuelPriceHike, with users reacting to a template released by the Petroleum Products Pricing Regulatory Agency (PPRA) showing that the new price of petrol has reached N212.61 per litre in the country.

The template which the PPPRA released in the early hours of Friday, and later ‘deleted’, had stated that petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61K.

Nigerian marketers usually use the upper band for pump price,

The PPPRA, however, later deleted the post which was earlier published on its Web site, http://pppra.gov.ng/pms-guiding-price-for-march-2021/, Channels TV report stated.

ConsumerConnect reports that in their reactions, many Twitter users took to the microblogging site to lament the effects the purported fuel price increase would have on food prices and transportation in Nigeria.

Others also called for a protest, noting that President Muhammadu Buhari administration has failed the masses.

But the NNPC in the latest tweet has ruled out any increment in the ex-depot price during the month.

The NNPC had earlier assured consumers, that the petrol price would remain static in March, in order to allow effective negotiations between the Federal Government and Organised Labour unions in the country.

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