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Petrol Price Remains N165 Per Litre — FG

The Federal Government of Nigeria says the fixed pump price of premium motor spirit (PMS) remains N165 per litre as stipulated in the petroleum product pricing template.

Gatekeepers News reports that the executive director, distribution systems, storage, and retail infrastructure, NMDPRA, Ugbugo Ukoha made this known.

He said this after a visit to some depots in Lagos State, South West Nigeria.

The depots visited were NIPCO Depot and TotalEnergies Depot.

He urged marketers to comply with the pricing system.

Ukoha said the conflict between Russia and Ukraine had led to an increment in the cost of diesel, which was a critical product used in transporting petroleum products from the depots to the retail outlets.

“So, when we observed that this poses a big challenge in the movement of other products, we made the representation to the minister of state for petroleum and Mr. President graciously approved that the freight rate for trucks be increased,” Ukoha said.

“There’s a N10 addition, which we will apply to the different routes to enable trucks to move to docks easily with less burden.

“With these kinds of efforts from the government, we can only continue to appeal to operators within this industry to play by the rules.

“PMS is a regulated product and the prices are fixed. The ex-depot price is known. The pump price remains N165 and the authority is ever ready to enforce those rules.

“So, we will continue to urge Nigerians to keep within these operating rules.”

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