OpeOluwani Akintayo
Lagos — The Petroleum Products Pricing Regulatory Agency, PPPRA has clarified that marketers can sell a litre of petrol from April 1,2020 within a N123.50 to N125 guiding price band.
A statement signed by the Executive Secretary of the PPPRA, Abdukadir Saidu after the announcement of a reduction in price to N123.50, titled, ‘Clarification on Premium Motor Spirit(petrol) Guiding Price Band For The Month Of April 2020′ said in line with the government approval of a new price regime, effective March 19,2020, there was a provision for the establishment of a price band within which oil marketing companies are expected to sell at the retail stations.
Accordingly, the PPPRA explained further the Guiding Price Band which it said effective 1st April 2020, prices can range from N123.50 per litre–Lower Band, to N125 per litre–Upper Band.
The upper band means that marketers cannot sell above N125 per litre and the lower band means that they cannot sell below N123.50.
