The Federal Government, through the Petroleum Products Pricing Regulatory Agency, has announced a reduction in the ex-depot price of fuel from N81.51 to N77.66 per litre.Ex-depot price is the actual cost of petrol when it hits the shores of Nigeria from where it was purchased, according to the PPPRA. By the announcement, the ex-depot price was reduced by N3.85 per litre.The agency said the reduction became necessary following the Federal Government’s announcement of a reduction in the pump price of fuel from N97 to N87 per litre on Sunday.The agency, in a statement, said, “Consequent upon this (Federal Government’s) announcement, the PPPRA, in exercise of its mandate of determining the pricing policy and setting benchmark prices of petroleum products, hereby further announces the new ex-depot price of PMS as N77.66 per litre.“In view of the foregoing, oil marketers are hereby advised to adhere strictly to this new price regime, as the PPPRA, in conjunction with the Department of Petroleum Resources shall enforce compliance in order to ensure that consumers benefit fully from this new review. In other words, any violation of the prevailing price regime, shall attract appropriate sanctions.“It is therefore our wish to advise Nigerians against any form of panic-buying, as there are enough products in all depots across the country. We also wish to assure Nigerians that the PPPRA, in exercise of its mandate, is fully committed to ensuring adequate supply and distribution of petroleum product.”President Goodluck Jonathan had approved and directed the announcement of a downward review of the pump-price of fuel from N97 to N87per litre, with effect from January 19, 2015.The announcement, which was made by the Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, was in consonance with Section 6, Clause 1, of the Nigerian Petroleum Act, necessitated by the prevailing volatility in the international oil market and the drop in crude oil price.


http://www.punchng.com/news/fg-reduces-ex-depot-fuel-price-to-n77-66-per-litre/

Democracy good,God bless Nigeria and GEJ....

front page pls..... Gej till 2019...after dat a nothern presidency

Nice One!



GEJ Till CryBuhari14


GEJ Till 2019

This will be on gotten from NNPC fuel stations. So what's the point?

EmoBoy:
This will be on gotten from NNPC fuel stations. So what's the point?

Good for us,things will come down and improve...

Even if they like sell PMS for #1 per liter, we say we want CHANGE.

quinnboy:
Even if they like sell PMS for #1 per liter, we say we want CHANGE.

The change is already here.....GEJ

Good. We are getting somewhere. So we have a figure for the price of an imported litre of petrol once it has landed on the shores of Nigeria.

What is the cost of a locally refined litre of petrol in Naira today? This is a question I have been asking for months but the government people on here have not been able to answer.

The answer to this question will resolve the so-called subsidy matter once and for all.

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Already too late to cry

Final round

Apc is killing pdp


Up apc[/size]

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one barrel of crude oil is now below 50$

One barrel of crude if refine is equivalent to 150 liters of fuel.

Do the maths

Why can't we own a refinery?

If we refine this crude oil in nigeria there will be no need spending money for imported fuel.

We could simply buy locally refine fuel for 20naira.

Oil thefts steals 400,000 barrel per day.

And nigeria only need free 250,000 barrel per days to power our economy, but only few people enrich themselves with GEJ.

This will only make us to spend for refining cost and by then it will be around 10naira if crude oil is free.

This will make our economy more stronger and the poor will feel the impact of a government. No robbery and kidnapping.

to power electricity and the whole nigeria economy is 250,000 a day. Oil thefts steals 400,000 per day.

Jonathan failed nigerians



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Our e - warriors are coming to start throwing their insults as usual...make i siddon dey observe...

as usual, many would come on here with little understanding to spew jargons. Is it GEJ's fault that you didn't understand and pass O'Level Economics

olrotimi:
as usual, many would come on here with little understanding to spew jargons. Is it GEJ's fault that you didn't understand and pass O'Level Economics

You mind them.......

It may be slow;but we will get there....

Too late GEJ, sorry.

Omooba77:
It may be slow;but we will get there....

We will get there but many will perish in the wilderness.