The Petroleum Products Pricing Agency (PPPRA) has, on Friday, deleted the new Premium Motor Spirit (PMS), also known as petrol, pricing template it published earlier on its website following public outcries.
The latest petrol pricing template, dated March 6, 2020, had shown N212.61 per litre, which is N50 more than the previous price of N162.
Meanwhile, in place of the new template, the PPPRA website said: “Please be informed that published prices are indicative of current market trend”.
The increment followed despite the assurances by the Group General Manager, Group Public Affairs Division of the Nigerian National Petroleum Corporation (NNPC), Dr. Kennie Obateru.
In a statement published by ElombahNews, NNPC had categorically said that there will be no increase in fuel price in March.
Dr. Obateru stated that “the Corporation was not contemplating any raise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.”
He also cautioned petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.