The country's economy has been taking a nose dive for a while, it has gotten to the point where price of 1 litre of petrol is 2 NGN shy of the maximum value NGN fell to 1 USD during previous Govt.
The template published Thursday night shows that the retail price of petrol would sell between market band of N209.61 and N212.61. Marketers usually sell at the upper band.
With ex-depot price standing at N206.42 per liter, the March template showed that the landing cost for petrol per liter is N189.61.
Although, the Nigerian National Petroleum Corporation (NNPC) had said price would remained static in March to allow smooth dialogue between government and labour unions, PPPRA’s follows the increasing price of crude at the international market as well as instability in exchange rate.