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Buhari Increases Fuel price To N212

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NAIJA NEWS: Buhari Increases Fuel price To N212 [New Naija News] » Naijacrawl
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The Buhari led administration has reportedly increased the fuel price to N212, and this is coming barely a day after President Muhammadu Buhari promised to return fuel price to below N100 per litre for Nigerians.



Federal authorities on Thursday initiated an upward review of petrol price to N212 per litre, raising fresh economic concerns for the country’s impoverished households.

The fuel pricing regulator PPPRA said in its template released on Thursday night that a litre of fuel would now be sold for prices ranging from N209 to N212 per litre for March. This was against N186 the crucial commodity retailed for in February.

The PPPRA said the landing cost of petrol in March would be N189.61 per litre as against N163.74 in February.

The PPPRA has been setting guidelines for petrol sales since the Buhari administration announced partial deregulation of the oil sector, but the government maintains control of policies that determine ultimate retail costs.

It is instructive to note that the Buhari met the price at N87 per litre when he assumed office in 2015, and has increased it periodically ever since, despite appeals from Nigerians that the biting costs would worsen inflation and living conditions for a country already designated as the world’s poverty capital.

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Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

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