A petroleum station metre in Abuja reads N125 on Thursday, March 19, 2020. Photograph: Sodiq Adelakun
The Petroleum Merchandise Pricing Regulatory Company (PPPRA) on Thursday stated it’ll begin the modulation of petroleum merchandise costs on a month-to-month foundation as from April 1.
PPPRA Govt Secretary, Mr Abdulkadir Saidu, at a press convention, stated the value modulation shall be decided by market forces, together with the value of crude oil.
The PPPRA stated it’ll maintain a number of engagements with petroleum entrepreneurs in a bid to safe their buy-in as the costs of their merchandise fluctuate primarily based on market forces.
Some petrol stations within the nation’s capital have began complying with the federal authorities’s directive to regulate the pump value of premium motor spirit to N125 per litre, Channels TV can report.
Our crew, which went spherical Abuja, nonetheless, found that some stations are nonetheless meting out at N145 per litre.