Metro FG Reviews Petrol Pump Price as Landing Cost Hits N171/Litre

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LequteMan

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The federal government has announced that the Petroleum Products Pricing Regulatory Agency, PPPRA is reviewing the pump price of petrol in the country following the recent scarcity.

Minister of state for petroleum resources, Ibe Kachikwu, said FG won't allow an increase from the current N141 per litre despite the landing cost of the product having risen to N171 per litre.

"There are two lines as regards this template; there is the actual cost of landing the product, on the template, and there are other ancillary charges that deal with logistics, profit margins for the operators and all of that.

"As part of this committee's work, we are also reviewing that template to see whether there are things we need to do to help us ensure that we can accommodate sales at the N145/litre window. So, that is going to be looked into. The PPPRA is working on that and is heading a special committee on it."
 

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