Nigerian govt deceives citizens, raises petrol price above N200
The Nigerian government has increased the pump price of petrol to N212.61 a litre, less than two weeks after assuring the nation there would be no hike. The Petroleum Products Pricing Regulatory Agency (PPPRA) announced late Thursday that the retail price for a litre of petrol for the month will be between N209.61 and N212.61. The ex-depot price, which is the amount sold by fuel depot owners to marketers, will be N206.42, while the landing cost stands at N189.61 per litre, the agency said. The announcement comes amid a partial scarcity of fuel that has lingered for weeks. There had been concerns the government, which says it has deregulated the sector and no longer pays subsidy, would raise rates as crude oil prices have seen a rebound in the global market. The state-owned NNPC, which regulates the sector and is the sole importer of refined petrol, however, assured there was no such plan for February and March. On March 1, the NNPC said in a statement by its Group General Manager, Gr