The Executive Secretary, PPPRA, Abdulkadir Saidu, who said this in a statement issued in Abuja, stated that petrol price would be adjusted in a way that it would not cause hardship on consumers.
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, says the company cannot continue to bear the subsidy burden.
The Nigerian National Petroleum Corporation (NNPC) has said that the Federal Government is going to consult widely before halting subsidy on Premium Motor Spirit, popularly called petrol.
While speaking at the groundbreaking for the Rungas composite cylinder manufacturing plant in Alaro City Free Zone, Epe, the Minister of State for Petroleum Resources, Mr Timipre Sylva, urged Nigerians to disregard the increase, explaining that it was a mix-up.
The World Bank noted that the Nigerian government had eliminated petrol subsidy and established a market-based pricing mechanism with no price ceilings.
The President Muhammadu Buhari, has transmitted the much-awaited Petroleum Industry Bill 2020 to the National Assembly and has proposed the creation of the Nigerian National Petroleum Company Limited.
It said that the subsidy was paid to oil marketers and the Nigerian National Petroleum Corporation (NNPC) in the period under review.
This means a litre of petrol may be increased from N143 to N149.
The new ex-depot price was contained in an internal memo by the Pipelines and Products Marketing Company seen by our reporter yesterday night.
By Oke Peter The Petroleum Products Pricing Regulatory Agency has announced that Nigeria exceeded its Liquefied Petroleum Gas consumption target for the month of January 2020. The LPG is popularly called cooking gas in Nigeria. Specifically, the PPPRA said Nigeria recorded about 89,910 metric tonnes of national consumption of the LPG in January. The PPPRA…
