Federal government increases petrol pump price to N143.80 (photo)

The federal government of Nigeria has done it again by altering the petrol pump price.

Federal government increases petrol pump price to N143.80 (photo)

And this time it is going higher from the initial pump price of less than 140NGN.

This statement was however spoken from the office in charge of regulating pump prices.

The Petroleum Products Pricing Regulatory Agency made this known to the public.

The announcement which goes from a former price of 140.80 NGN to a new price of 143.80 NGN.

Just for a litre of petrol which most times is called the Premium Motor Spirit.

The agency in charge of the regulation of petroleum products prices made this known

In the statement today which says, “after a review of the prevailing market fundamentals in the month of June”

“And considering marketers’ realistic operating costs, as much as practicable.”

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“We wish to advise a new PMS pump price band

“Of N140.80-N143.80 per litre for the month of July 2020.” He concluded.

Many other countries are making things easy for their citizens but not with the way Nigerian

Government is operating the affairs of the country since the break of the global pandemic outbreak.

Even though it is important to note that the crisis affected everyone in the country.

Check out the official statement released by the Federal Government below.

View this post on Instagram

FG increases petrol pump price to N143.80 The Petroleum Products Pricing Regulatory Agency has announced a new price band of N140.80 to N143.80 per litre for Premium Motor Spirit, also known as petrol. The PPPRA, in a circular dated July 1, 2020 to marketers, said, “After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80-N143.80 per litre for the month of July 2020. “All marketers are advised to operate within the indicative prices as advised by the PPPRA.” The agency had on May 31, 2020 announced a price band of N121.50 to N123.50 per litre for the product. Sources at the Abuja headquarters of the agency said the rise in petrol price for July was primarily due to the increase in global crude oil prices, as PMS had been deregulated.

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