BREAKING: NNPC Debunks Petrol Price Hike As PPPRA Fixes N212.61 Per Litre – #FuelPriceHike—Reacting to trending news on fuel hike, The Nigerian National Petroleum Corporation has countered the Petroleum Products Pricing Regulatory Agency (PPPRA) on increase in fuel price.
The Genius Media Nigeria reports that NNPC in a post on its official Twitter page insisted that there is no increase in depot prise of Premium Motor Spirit.
The post read: “NNPC insists no increase in Ex-Depot Price of PMS in March.”
JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM
— NNPC Limited (@nnpclimited) March 12, 2021
This countered report posted by PPPRA on Thursday night via its website, announcing an increase in fuel price.
PPPRA in its announcement explained that the hike was due to the market determinants and importation costs.
PPPRA fixed the lower band of the new fuel price at N209.61 per litre and upper band at N212.61 per litre.
Recall that the NNPC spokesman, Kennie Obateru, had on February 28, assured Nigerians that there would be no increase in fuel price.
“Contrary to speculations of an imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March”, he said.
