PPPRA Removes New Fuel Price Template From Website
The Petroleum Products Pricing Agency (PPPRA) has removed its latest Premium Motor Spirit (PMS) petrol pricing template of N212.61 per litre from its website.
This followed outcry on the social media as the story of an upward review of the pump price went viral on Friday morning.
Its spokesperson, Folasade Kayode, declined comments on the removal of the new template from the website.
The PPPRA has removed not only the latest template but even those of early 2021.
READ ALSO: No Fuel Price Increase – NNPC
The latest petrol pricing template found on the website was that of March 6, 2020.
Meanwhile, in place of the new template, the PPPRA website said: “Please be informed that published prices are indicative of current market trend.”
The Nigerian National Petroleum Corporation (NNPC) on its official twitter handle insisted there would be no price increase of petrol in March 2021.
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BREAKING: CBN Speaks On Devaluation Of Naira To N630/$1
The Central Bank of Nigeria ( CBN) on Thursday denied devaluing the naira .
This clarification came from the
Acting Director, Corporate Communication, Dr. Isa AbdulMumin, in a statement titled, “CBN Has Not Devalued the Naira”.
He said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report… titled “CBN Devalues Naira To 630/31”.
“We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.
“For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this moming (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.”
The bank advised the public to ignore the news report in its entirety, saying it’s speculative and calculated at causing panic in the market.
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BREAKING: After Subsidy Removal, NNPC Increases Petrol Price To Over N500
The Nigerian National Petroleum Company Limited (NNPC) on Wednesday adjusted the pump price of petrol by over 100% to between N488 and N557.
The development followed the announcement by President Bola Tinubu during his inaugural address on Monday that fuel subsidy was ‘gone’.
However, it was learnt that the president will meet with organised labour from 2pm Thursday (today) afternoon.
The prices have now been adjusted upward from between N189 to N194 to N537 per litre in Abuja and other North-central States.
For Lagos and other South-west states, a litre of fuel now sells for between N488 and N500 per litre.
In the South-east, the price will range from N515 to N520, while in the North-west, the price of the product was raised to N540. In the North-east, it moved from N199 to N557 per litre.
For the South-south, it is now from N511 to N525 per litre. Nigeria’s subsidy budget of N3.6 trillion for this year, expires in June, 2023.
BREAKING: FCMB Founder Olasubomi Balogun Dies
Theo Founderf First City Monument Bank (FCMB), Otunba Michael Olasubomi Balogun, is dead.
According to reports, family sources revealed that Balogun died in London Friday morning at the age of 89.
He was Otunba Tunwase of Ijebuland before his death.
As a ranking Ijebu Chief, his death will, however, only be officially announced in line with tradition.
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