Products Pricing Regulatory Agency (PPPRA
The Petroleum Products Pricin find g Regulatory Agency (PPPRA), has increased the price of household kerosene from N50 to N83. This was contained in its products pricing template, released on Sunday in Abuja. It stated that the N83 per litre price applied only to the Nigerian National Petroleum Corporation outlets. The template also showed that at house N83, the Federal Government will be making a gain of N10.72 on every litre, thus ending the era of subsidy when the price was pegged at N50 per litre. It further puts the expected open market price, which is the landing cost plus total margins, at N72.28 per litre. The expected open market price is the prev business ailing open market rate for the product in Nigeria, after taking certain costs into consideration. Giving a breakdown of the price, the PPPRA template put the landing cost of the product at N57.98 per litre, while the total margin due middlemen was put at N14.30. The retailers’ margin was put at