Nigeria goment don increase di pump price of Premium Motor Spirit, petrol from N140.80 to N143.80 per litre.
Di Petroleum Products Pricing Regulatory Agency (PPPRA) announce di 16 per cent increase for one statement wey di Executive Secretary of di agency sign on Wednesday.
Earlier in April 2020, Federal Government bin announce a reduction of di price of petrol pump to N123.50 per litre.
For di past two decades (20 years), price of PMS neva dey stable for di kontri. Either sometimes dem reduce am or increase am.
How price of petrol be between 2000 – 2020
- June 2000, di price of petroleum na N22 per litres.
- 1 January, 2002 dem increase di price from N22 to N26 per litre.
- 23 June, 2003 Federal Goment increase di price from N26 to N40 per litre.
- 29 May, 2004 Federal Goment increase di price from N40 to N50 per litre.
- August, 2004 Federal Goment increase di price from N50 to N65 per litre.
- 27 May, 2007 pipo wey go buy fuel gas pay N75 per litre. Afta pipo protest di increase, goment reduce pump price to N65 per litre on June 2007.
- 1 January, 2012 Federal Goment announce fuel subsidy to increase di price of PMS to N141 per litre. Anoda protest happun sake of dis increase, thousands of pipo march for street, dem tag di protest #OccupyNigeria. goment later reduce di price to N97 per litre.
- 18 January, 2015 – Sake of crash in di price of crude oil for di International Market, di former minister of petroleum, Mrs. Diezani Allison announce di reduction in di price of Premium Motor Spirit from N97 to N87.
- May 2016, di price of petrol later increase to N145 per litre, di Minister of State for Petroleum, Mr. Ibe Kachikwu say di increase dey come to balance di different prices wey Nigerians dey pay to buy fuel from di marketers sake of fuel scarcity.
- March 2020 – Sake of di crash in crude oil prices for di international market, pump price of Premium Motor Spirit (PMS) move from N145 to about N125 per liter.
- Afta one month, for di second time in May 2020, di Petroleum Products Pricing Regulatory Agency (PPPRA) don announce new pump price band to between N121.50 to N123.50 per litre for petrol.
Nigeria na one of di biggest producer of petroleum product but from di reasons wey goment dey give for di reduction and most times increase in di pump price of petroleum products, e dey obvious say di global crude oil price play ogbonge role for di stability of petrol pump price for di kontri.
“Afta we don review how di prevailing market be for di month of June and as we dey consider di moni wey marketers’ dey use buy di products , we wish to advise new PMS pump price band of N140.80 – N143.80 per litre for the month of July 2020,” Nigeria Petroleum Products Pricing Regulatory Agency statement tok on Wednesday 1 July, 2020.
Di statement advise all marketers to operate within di price wey di PPPRA advise.