Tag: Fresh Fuel Price hike Looms as Govt. mulls 20% Freighting Cost surge

36 Nigerian Governors Okay N385/litre Petrol Price Hike

ADEOLA YUSUF

  Help on the way to buy 113 buses to cushion the effects of the looming price hike expected to end monthly fuel Subsidy, which has hit N210 billion   The 36 Nigerian States’ governors have okayed N385 per litre price for Premium Motor Spirit (PMS) also known as petrol. Platforms Africa reports that the product is presently being sold between N162 and N165 per litre nationwide. READ ALSO: Fire kills 113, Destroys N24.69bn Properties In Lagos in 2 years Contractor demands $400m as Mambilla Power deals tear Nigeria, Firm Apart…

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Fresh Fuel Price hike Looms as Nigeria mulls 20% Freighting Cost surge

ADEOLA YUSUF

  The Nigerian Government has revealed plans to increase cost of transporting (freighting) Premium Motor Spirit (PMS) also known as petrol by 20 percent. The surge, which will see the price jumping from N7.51 to N9.11 per litre in the pricing template of Petroleum Products Pricing Regulatory Agency (PPPRA), will, if scaled through, lead to hike in the retail price of the product across the country. The Executive Secretary of the Petroleum Equalisation Fund (PEF) management Board, Ahmed Bobboi, who stated this, maintained that this development was a measure to…

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