FG Jacks Up Fuel Pump Price To N143

The Federal Government of Nigeria has today warned against patronizing filling stations dispensing petrol above the N145 price mark.

This development is coming just as the current Administration increased the pump price of Premium Motor Spirit, also known as petrol from N140.80 to N143.80 per litre.

The Petroleum Products Pricing Regulatory Agency (PPPRA) announced the increment in a statement issued by its Executive Secretary, Abdulkadir Saidu on Wednesday.

“After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – N143.80 per litre for the month of July 2020,” the statement read.

“All marketers are advised to operate within the indicative prices as advised by the PPPRA.”

Recall that earlier in April, the Federal Government had announced a reduction of the petrol pump to N123.50 per litre.