ECONOMY

PPRA Issues Advisory For New Petroleum Pump Price_Ada Nkong

Contrary to reports that a new pump price has been fixed for PMS in Nigeria, stakeholders say the PPRA merely issued an advisory without which marketers would pick arbitrary prices.


According to our source. “what the PPPRA has done is advisory and within its regulatory framework”.
“Breakdown of average littering expenses are as follows: 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”.

“Without this advisory, marketers can sell at N230 per litre”.

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