• About
  • Privacy & Policy
  • Terms
  • Contact
Breaking News Nigeria, Latest Nigerian News
ADVERTISEMENT
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Lagos

    Lagos unveils 5-year agribusiness roadmap to boost investment, food security

    COVID-19

    COVID-19: Taraba leads as NCDC records 100 new cases

    GTB

    GTB’s profit drops by 9% in Q1 2021

    COVID-19

    COVID-19: Nigeria records no deaths in 9 days

    Senior Police

    Why police chief, Usman-Baba removed senior police officers from EFCC

    Dollar

    Don’t reject any dollar notes, CBN warns banks, BDCs

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Mobile
    • Startup
    SIM registration

    Nigeria lifts ban on new SIM registration

    Twitter

    3 reasons why Twitter sidelined Nigeria to locate Africa office in Ghana

    Appzone

    Nigerian fintech, Appzone raises $10 million Series A

    Cryptocurrency

    Visa set to start accepting cryptocurrency

    nigerian tech

    Is the Nigerian tech ecosystem on a brink of Dutch Disease?

    Elon Musk

    It’s official, Tesla is accepting payment in Bitcoin

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Ryan Mason

    MOURINHO: Tottenham appoints Ryan Mason as new interim manager

    UEFA

    UEFA unveils new rules amid rising opposition to new super league

    BREAKING! Tottenham fire Jose Mourinho

    BREAKING! Tottenham fire Jose Mourinho

    Adekunle Gold

    Did Adekunle Gold actually cheat on his wife Simi?

    #eaglewingsmovie

    #EagleWingsMovie: Nigeria’s first true action film pitches duty against love in Boko Haram fight

    22-year-old Nigerian officially becomes the fastest man in the world

    22-year-old Nigerian officially becomes the fastest man in the world

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    omojuwa

    Omojuwa’s weekend is off to a bad start, here is why

    Weekend

    #TGIF! 5 exciting ways to make the most of your weekend

    University of Ibadan

    FG approves N190.5 million for University of Ibadan to purchase microscope to aid research

    HEATWAVE: 5 tips to stay stylish and cool in this hot weather

    HEATWAVE: 5 tips to stay stylish and cool in this hot weather

    who cheats more

    #VALENTINE SPECIAL: Men or women? Who cheats more? Result of this new study will shock you

    valentine's day

    5 ways to make Valentine’s Day memorable while observing social distancing

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • SMARTKOBO
    landed property

    Is that land really cheap as advertised? How to know actual cost of a landed property

    untitled lands in nigeria

    How to acquire untitled lands in Nigeria without getting into trouble with the government

    real estate investment

    A wrong real estate investment can wipe out your whole life savings. This is how to do it safely

    returned item fee

    #SmartKobo: What is a returned item fee and why was I penalised?

    investment strategies

    #SmartKobo: 6 winning investment strategies to stay ahead in 2021

    pay schedule

    #SmartKobo: Weekly, monthly & more: How your pay schedule affects you

  • #EndBadGovernance Photo Challenge
No Result
View All Result
Breaking News Nigeria, Latest Nigerian News
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Lagos

    Lagos unveils 5-year agribusiness roadmap to boost investment, food security

    COVID-19

    COVID-19: Taraba leads as NCDC records 100 new cases

    GTB

    GTB’s profit drops by 9% in Q1 2021

    COVID-19

    COVID-19: Nigeria records no deaths in 9 days

    Senior Police

    Why police chief, Usman-Baba removed senior police officers from EFCC

    Dollar

    Don’t reject any dollar notes, CBN warns banks, BDCs

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Mobile
    • Startup
    SIM registration

    Nigeria lifts ban on new SIM registration

    Twitter

    3 reasons why Twitter sidelined Nigeria to locate Africa office in Ghana

    Appzone

    Nigerian fintech, Appzone raises $10 million Series A

    Cryptocurrency

    Visa set to start accepting cryptocurrency

    nigerian tech

    Is the Nigerian tech ecosystem on a brink of Dutch Disease?

    Elon Musk

    It’s official, Tesla is accepting payment in Bitcoin

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Ryan Mason

    MOURINHO: Tottenham appoints Ryan Mason as new interim manager

    UEFA

    UEFA unveils new rules amid rising opposition to new super league

    BREAKING! Tottenham fire Jose Mourinho

    BREAKING! Tottenham fire Jose Mourinho

    Adekunle Gold

    Did Adekunle Gold actually cheat on his wife Simi?

    #eaglewingsmovie

    #EagleWingsMovie: Nigeria’s first true action film pitches duty against love in Boko Haram fight

    22-year-old Nigerian officially becomes the fastest man in the world

    22-year-old Nigerian officially becomes the fastest man in the world

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    omojuwa

    Omojuwa’s weekend is off to a bad start, here is why

    Weekend

    #TGIF! 5 exciting ways to make the most of your weekend

    University of Ibadan

    FG approves N190.5 million for University of Ibadan to purchase microscope to aid research

    HEATWAVE: 5 tips to stay stylish and cool in this hot weather

    HEATWAVE: 5 tips to stay stylish and cool in this hot weather

    who cheats more

    #VALENTINE SPECIAL: Men or women? Who cheats more? Result of this new study will shock you

    valentine's day

    5 ways to make Valentine’s Day memorable while observing social distancing

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • SMARTKOBO
    landed property

    Is that land really cheap as advertised? How to know actual cost of a landed property

    untitled lands in nigeria

    How to acquire untitled lands in Nigeria without getting into trouble with the government

    real estate investment

    A wrong real estate investment can wipe out your whole life savings. This is how to do it safely

    returned item fee

    #SmartKobo: What is a returned item fee and why was I penalised?

    investment strategies

    #SmartKobo: 6 winning investment strategies to stay ahead in 2021

    pay schedule

    #SmartKobo: Weekly, monthly & more: How your pay schedule affects you

  • #EndBadGovernance Photo Challenge
No Result
View All Result
No Result
View All Result
Breaking News Nigeria, Latest Nigerian News
Home Breaking News

#FuelPriceHike: Confusion as NNPC insists no increase in depot price in March, as PPPRA makes u-turn, deletes new price template

Kehinde Sallah by Kehinde Sallah
March 12, 2021
in Breaking News
0
A A
0
#FuelPriceHike

NNPC Logo Source: NNPC

Share on FacebookShare on Twitter

#FuelPriceHike: PPPRA makes U-turn

The Nigerian National Petroleum Corporation (NNPC) has insisted there is no increase in the ex- deport price of Premium Motor Spirit (PMS) also known as petrol in March.

The oil corporation debunked the report of the increase in the retail price of petrol to N212.61 per litre making rounds on all social media platforms in a tweet on its official account @NNPC group.

READ ALSO: No intention to increase petrol price, NNPC assures Nigerians

The tweet reads; JUST IN

“#NNPC Insists No Increase in Ex-deport Price of PMS in March”

JUST IN:#NNPC Insists No Increase in Ex-Depot Price of PMS in March pic.twitter.com/IQ3S3EWVlM

— NNPC Group (@NNPCgroup) March 12, 2021

Following the outrage that greeted the increase in the price of PMS, the Petroleum Products Pricing Regulatory Agency (PPPRA), on Friday, deleted an earlier published template.

Recall that PPPRA released a report on Thursday night that showed that the expected ex-depot price for wholesale products marketers now stands at N206.42 per litre.

The addition of retailers’ margin of N6.19 per litre would bring the expected retail price (lower band) N209.61 per litre and expected retail price (upper band) N212.61 per litre.

PPPRA said the average price per ton of the commodity is about $561.96, or N169.22 per litre, while the average freight rate cost $21.63 per ton or N6.51 per litre. The ex-coastal price is N175.73 per litre.

The average littering expenses were put at N4.81 per litre; Nigerian Ports Authority (NPA) charge N2.49 per litre; NIMASA charge N0.23 per litre; Jetty Thru put of N1.61 per litre and Storage charge of N2.58 per litre and average finance cost of N2.17 per litre, translating to an expected landing cost per litre of N189.61.

The wholesale margin was fixed at N4.03 per litre; administration charge, N1.23 per litre; transporters’ allowance (NTA) of N3.89 per litre; Bridging Fund cost of N7.51 per litre and Marine transport average (MTA) of N0.15 per litre.

The price was calculated on the approved average importer & exporter (I&E) Naira exchange rate per dollar of N403.80. The crude oil price at the international market is currently $70/barrel.

This means that the retail price of petrol would be N212.61. In a template published on its website, the agency explained that the increment was due to the market determinants and importation costs.

Also, recall that the NNPC assured Nigerians there will be no #FuelPriceHike in a statement signed by the NNPC spokesman Kennie Obateru.

Tags: #FuelPriceHikennpc

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

FG withdraws stamp duty collection right from FIRS, restores it to NIPOST

Next Post

Banks risk disconnection from USSD services over unpaid N42 billion debt to telcos

Next Post
USSD

Banks risk disconnection from USSD services over unpaid N42 billion debt to telcos

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 2.4k Followers
  • 5 Followers
  • Trending
  • Comments
  • Latest
landed property

Is that land really cheap as advertised? How to know actual cost of a landed property

April 22, 2021
COVID-19

COVID-19: Nigeria records no deaths in 9 days

April 22, 2021
GTB

GTB’s profit drops by 9% in Q1 2021

April 22, 2021
Sanwo-Olu

Lagos rolls out N9B COVID-19 stimulus to support 20,843 households

April 22, 2021
Baba Ijesha

Popular Nollywood actor Baba Ijesha arrested for allegedly defiling 14 years old girl

April 23, 2021
Senior Police

Why police chief, Usman-Baba removed senior police officers from EFCC

April 21, 2021
Lagos

Lagos unveils 5-year agribusiness roadmap to boost investment, food security

April 23, 2021
Passport

Why Nigeria reviewed passport processing time to 6 weeks

April 23, 2021
COVID-19

COVID-19: Taraba leads as NCDC records 100 new cases

April 23, 2021
#PantamiMustGo

#PantamiMustGo: Nigeria Presidency throws weight behind minister who professed love for terror groups

April 23, 2021
Baba Ijesha

Popular Nollywood actor Baba Ijesha arrested for allegedly defiling 14 years old girl

April 23, 2021
GTB

GTB’s profit drops by 9% in Q1 2021

April 22, 2021

Recent News

Lagos

Lagos unveils 5-year agribusiness roadmap to boost investment, food security

April 23, 2021
Passport

Why Nigeria reviewed passport processing time to 6 weeks

April 23, 2021
COVID-19

COVID-19: Taraba leads as NCDC records 100 new cases

April 23, 2021
#PantamiMustGo

#PantamiMustGo: Nigeria Presidency throws weight behind minister who professed love for terror groups

April 23, 2021
Breaking News Nigeria, Latest Nigerian News

Follow Us

Subscribe to our newsletter

Please wait...
Want to be notified when our article is published? Enter your email address below to be the first to know.

Browse by Category

  • Apps
  • Athletics
  • Basketball
  • Breaking News
  • Business
  • Business Editor's Pick
  • Business Featured Section
  • EndBadGovernance Photo Challenge
  • Entertainment
  • Fashion
  • Featured
  • Food
  • Football
  • Gaming
  • General
  • Health
  • Lifestyle
  • Mobile
  • Motor Sports
  • Movie
  • Music
  • News
  • Politics
  • Politics Featured Section
  • Review
  • Science
  • SmartKobo
  • Sports
  • Startup
  • Tech
  • Technology
  • Technology Featured Section
  • Uncategorized
  • World

Recent News

Lagos

Lagos unveils 5-year agribusiness roadmap to boost investment, food security

April 23, 2021
Passport

Why Nigeria reviewed passport processing time to 6 weeks

April 23, 2021
COVID-19

COVID-19: Taraba leads as NCDC records 100 new cases

April 23, 2021
#PantamiMustGo

#PantamiMustGo: Nigeria Presidency throws weight behind minister who professed love for terror groups

April 23, 2021
  • About
  • Privacy & Policy
  • Terms
  • Contact

© Copyright Nigeria Today 2020

No Result
View All Result
  • Home
  • News
  • Tech
  • Entertainment
  • Lifestyle
  • SMARTKOBO
  • #EndBadGovernance Photo Challenge

© Copyright Nigeria Today 2020

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please wait...

Subscribe to our Nigeria Today News

Want to be notified when our article is published? Enter your email address below to be the first to know.
SUBSCRIBE