The Nigerian National Petroleum Corporation (NNPC) on Friday insisted that there is no increase in the pump price of the Premium Motor Spirit (PMS), otherwise known as petrol in the month of March.
The NNPC stated this in a tweet on its verified Twitter handle @NNPCgroup, stating that “#NNPC Insists No Increase in Ex-Depot Price of PMS in March.”
This is coming after the Petroleum Products Pricing Regulatory Agency (PPPRA), published a new pricing template for the country on its website on Thursday night, putting the new pump price at N212.61 per litre.
It will be recalled that the NNPC had insisted last month that there would not be an immediate increase in pump price, only for PPPRA to publish a new pricing template.
According to the template which the PPPRA released at midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.