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Breaking: N86.50 per litre is the New Petrol Price in Nigeria from 1st Jan 2016

BellaNaija.com

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A statement by the Petroleum Products Pricing Regulatory Agency (PPPRA) lists the the pump price of petrol effective from January 1, 2016.
The price will be N86.50 per litre.

BN News received the statement which was signed by the PPPRA Executive Secretary, Farouk Ahmed.

The Petroleum Products Pricing Regulatory Agency (PPPRA), hereby announces the implementation of the revised components of the Petroleum Pricing Template for Premium Motor Spirit (PMS) and Household Kerosene (NHK).
This follows the approval of the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, for the implementation of the revised template.
Accordingly, the Ex-depot price of PMS shall be N77.00 per litre, while the pump price shall be N86.50 per litre in line with the prevailing market trend. This new price regime is with effect from 1st January 2016.
All Marketers are hereby advised to adhere strictly to the PPPRA Ex-depot and pump prices, as PPPRA in conjunction with relevant government agencies shall enforce compliance.

18 Comments

  1. Aadey

    December 29, 2015 at 11:32 pm

    Bunch of jokers!!! So in FG’s mind they have done Nigerians a favour worth celebrating… from N87 to N86.50… #iranuabasha

  2. tina

    December 29, 2015 at 11:42 pm

    what the hell will a 50 kobo abi 1 naira reduction do?!! anyway, half bread is better than none.

  3. FasholasLover

    December 30, 2015 at 12:59 am

    The govt’ plans to remove petroleum subsidy yet, in the same breath regulates the market? This kind economics tire me o.

  4. Karashika

    December 30, 2015 at 1:56 am

    Odiegwu

  5. trunigerian

    December 30, 2015 at 3:13 am

    N87 -N86.5 Who remembers to collect change?

    Propaganda on the mountain top.

    • Beeeee

      December 30, 2015 at 6:50 am

      And when last did anyone see 50 kobo sef? Where wi the change come from? This our country ehn!

    • molarah

      December 30, 2015 at 4:44 pm

      And who buys exactly one litre of fuel anyway…? Think….

  6. nene+

    December 30, 2015 at 3:28 am

    Ridiculous!!!!
    Mr Ibe has been dragged into kidding and amusing Nigerians.

  7. Tolu

    December 30, 2015 at 4:54 am

    Oh another technical price? Who is fooling who self?

  8. Ememobong

    December 30, 2015 at 5:33 am

    2019!!! Please hurry o!!!

  9. ATL's finest

    December 30, 2015 at 5:57 am

    I saw this article since & d fear of my typing hands didn’t allow me comment on it lol. Ok na till then abi

  10. ola olushola clem

    December 30, 2015 at 6:19 am

    for this nation to get appropriation of everything
    we need to change partern of the governing
    body

  11. December Wind

    December 30, 2015 at 8:59 am

    They might as well leave it with the old price .. what’s with the insignificant decrease by just 50 kobo . Are they trying to mock us? Do we still use kobo? I’m taking offense.

  12. Ebere

    December 30, 2015 at 9:11 am

    Singing “Story story!!!Story. Once upon a time!!!!Time time…….

    • Foley

      January 2, 2016 at 8:46 am

      It is well, I bought fuel yesterday at d rate of #130

  13. mabel

    December 30, 2015 at 9:21 am

    That’s why I don’t like listening to all these mumu dem say people. Did I not hear well when my family friend came to the house on saturday that he heard from a reliable source that fuel will be 46 naira? Did he talk with water in his mouth abi this harmattan has affected my ears too?

  14. Tosin

    December 30, 2015 at 10:35 am

    Next time, maybe an irrational number? 😉

  15. nnenne

    December 30, 2015 at 1:33 pm

    Now, can someone convince me that politics is not a bitch?
    Power must taste very sweet, otherwise, why would people do anything to hold on to it?

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