President Muhammadu Buhari in a phone chat with Saudi Crown Prince Mohammed bin Salman, has reviewed the current progress made on the OPEC+ deal.
According to SPA, the Saudi news agency, both leaders spoke on Monday. Buhari and Salman also reviewed aspects of cooperation to enhance the stability of oil markets, SPA added.
Under the deal, Nigeria’s production quota has been pegged at 1.4m BPD.
The Federal Government on Wednesday increased the pump price of Premium Motor Spirit popularly known as petrol to N143.80 per litre.
The Petroleum Products Pricing Regulatory Agency (PPPRA ) announced this in a circular to marketers.
According to a letter by its Executive Secretary, Alhaji Abdulkadir Saidu to marketers, PPPRA said the price is for July.
The letter which The Nation obtained in Abuja was titled: “Advised price for Premium Motor Spirit (PMS)in the Month of July 2020.”
It reads in part: “Please recall the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at the retail stations, based on the existing price regime.
“Kindly note that the Ex-depot for collection includes the statutory charges of Bridging Fund, Marine Transport Average, National Transport Allowance (NTA ) and the Administrative charge.
“All marketers are advised to operate within the indicative prices as advised by the PPPRA. ”
The agency had last week announced that the Federal Government has deregulated the price of petrol fully.
This is the first price hike the downstream market is fixing for the product after the liberalisation.
The petrol had hitherto sold for N123.50 per litre.
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