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PPPRA Makes U-Turn on New Fuel Price, Deletes New Template as IPMAN Denies Increment Awareness

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The Independent Petroleum Marketers Association Of Nigeria (IPMAN) has denied the awareness of the latest increase in the price of Premium Motor Spirit (PMS) also known as petrol, as the Petroleum Products Pricing Regulatory Agency, on Friday, deleted its earlier template which announced that the new price of petrol has reached N212.6 per litre.

The latest action of the agency came hours after it published the template for the month of March on its website, http://pppra.gov.ng/pms-guiding-price-for-march-2021/, and after the Nigerian National Petroleum Corporation (NNPC) had insisted that there was no increment in the ex-depot price of petrol.

The PPPRA had, in its now deleted template, released midnight, put the lower retail price of petrol at N209.61 and the upper retail price at N212.61.

The template made Nigerians to put the new pump price of PMS at N212.61 as the Nigerians marketers usually make use of the upper brand for pump price for the petroleum product.

However, the Nigerian National Petroleum Corporation (NNPC) came out, few hours later, to insist that there is no increase in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol.

The NNPC, in a tweet, hours after the midnight release by the PPPRA, insisted that there was no any increment in the ex-depot price of petrol, adding; “#NNPC Insists No Increase in Ex-Depot Price of PMS in March.”

The ex-depot price is the price at which the product is sold by the NNPC to marketers at the depots and, according to the PPPRA, fuel depot owners will sell to marketers at N206.42, while the landing is N189.61 per litre.

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Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has declared that it is not aware of any increase in the price of petrol.

IPMAN Chairman, Kano State branch, Alhaji Bashir DanMalam, while speaking with journalists, on Friday, noting that the association is yet to receive any official directive to that effect from the Federal Government.

He therefore directed all his members in the state to continue selling the litre at the old price adding that whenever there is fuel price increment, critical stakeholders would inform the IPMAN leadership.

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