OVERVIEW OF: Federal Government Raises Petrol Pump Price to ₦143.80
The Petroleum Products Pricing Regulatory Agency has declared another value band of N140.80 to N143.80 per liter for Premium Motor Spirit, otherwise called petroleum.
The PPPRA, in a roundabout dated July 1, 2020 to advertisers, stated, "After an audit of the overarching market basics in the long stretch of June and thinking about advertisers' reasonable working expenses, as much as practicable, we wish to prompt another PMS siphon value band of N140.80-N143.80 per liter for the period of July 2020.
"All advertisers are encouraged to work inside the demonstrative costs as prompted by the PPPRA."
The office had on May 31, 2020 declared a value band of N121.50 to N123.50 per liter for the item.
Sources at the Abuja base camp of the office said the ascent in petroleum cost for July was fundamentally because of the expansion in worldwide unrefined petroleum costs, as PMS had been deregulated.