Nigerians to now pay N212 for PMS hours after President buhari promised to reduce the price -report
Nigerians will now pay N212 for a litre of Premium Motor Spirit hours after President Muhammadu buhari promises to reduce the cost of PMS to N100. The latest report of increment was contained in a release by the fuel regulator body in Nigeria, PPPRA.
The PPPRA release says a litre of PMS will now sell between N209 and N212 as against the earlier proposed N186.
PPPRA revealed that the landing cost of PMS has now gone from N163.74 in February to N189.61 in March thereby causing the latest unavoidable increase in fuel price.
PPPRA is the body responsible for setting guidelines for the oil sector aince President Muhammadu buhari administration announced the partial deregulation of the oil sector.
The latest increment will further dash the hope of many Nigerians who are struggling against the harsh economy in place in the country.
Meanwhile, President Muhammadu buhari met the price of PMS at N87 per litre ehen he got into power in 2015. Six years down the line, the price of PMS has now increased by over 100%.