FG denies plan to hike petrol price
... as marketers sell at N235/litre The Federal Government denied yesterday it planned to hike the pump price of petrol, despite the increase in price from N180 per litre to N235 by independent marketers. The government in a statement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, insisted that the country had 34 days of sufficiency in stock, despite visible evidence of shortage across the country. Checks around Abuja, the nation’s capital, yesterday, showed that most petrol stations were closed to motorists, while a few stations selling the product jerked up pump price to between N235 and N260 per litre; it was sold at N350 per litre in the black market. NMDPRA stated: "This advisory addresses speculations on the price and availability of Premium Motor Spirit, PMS. "The Authority wishes to inform the general public that the Federal Government has no intention of increasing the price of PMS during this period. "The Nigerian National Pe...