After weeks of speculations, the Petroleum Products Pricing Regulatory Agency (PPPRA) in Nigeria opened up on Thursday on the new price regime for the price of Premium Motor Spirit (PMS) otherwise known as petrol.
From a template published by the PPPRA on Thursday, the retail price of petrol would sell between a market band of N209.61 and N212.61.
The agency’s new monthly template puts the ex-depot price at N206.42 per litre and landing cost for petrol per litre at N189.61.
Expectedly, petrol marketers in the country would opt for the higher selling amount of N212.61 per litre, which will no doubt further plunge majority of Nigerians into adverse poverty and hardship.
As a nation which economy is not regulated, the cost of transportation, goods and services are expected in the coming days escalate with its attendant surge in criminalities in the already heightened insecurity in the country.
