Petrol import price now below N145- PPPRA

The Nigeria petrol regulating body, Petroleum Products Pricing Regulatory Agency (PPPRA) has said the import price of petrol product has gone below N145.

Mr. Apollo Kimchi, the agency spokesman in a statement released on Monday  made this known,  and disclosed that independent oil marketers will soon commence the importation of oil products.

Nigeria made attempt to remove petrol subsidy in 2012 by the then administration of Goodluck Jonathan.

However,  that move was rejected by Nigerians who poured out on the streets forcing the former People Democratic People administration to to reduce the pump price to N97.

The current government of the All Progressives APC, argues that it has romoved petrol subsidy and that moved the process of petrol to N145 per a litre.

The agency regulates petroleum products supply and distribution through the issuance of quantity notification and LAYCAN to NNPC (Nigerian National Petroleum Corporation) and OMCs (Oil Marketing Companies).

The agency has revealed  that in 2016 and 2017 periods, Nigeria imported about 50 million litres while it has estimated 2018 to be about 53 million litres.

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