FG increases petrol to N143.80

FG increases petrol to N143.80

- Petrol in Nigeria may start selling for the sum of N143

- This followed the recommendation by Petroleum Product Pricing Regulatory Agency

- According to the agency, a litre of petrol should now be sold between N140.80 and N143.80.

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Nigerians might witness another hike in retail price for petrol as the Petroleum Product Pricing Regulatory Agency (PPPRA) has recommended an upward review from N121.50.

The agency recommended that a litre of petrol should now be sold between N140.80 and N143.80.

The Cable reports that the agency in a statement wrote: “After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – N143.80/litre for the month of July 2020.”

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Meanwhile, Legit.ng had reported that in what many Nigerians would see as a sad development, three refineries in Nigeria have recorded a combined loss of N154 billion.

Legit.ng had also reported that Emeka Nelson, a Nigerian from the eastern part of the country, remains celebrated in his own right for being able to create a machine that converts wastes to petrol.

The machine does other things and there is hope that Emeka's innovation will help Nigeria's struggling economy.

The young man shared a posting, stating what the list of things the machine can do with photos of the invention on his Facebook page.

On the Facebook post, the young Nigerian man reported that the machine transforms hydrocarbon related wastes like plastic, nylon and so on.

He further revealed that the machine would be able to transform this type of waste into kerosene, diesel, tiles, interlocking stones, bricks and roofing sheets.

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Nelson who named his invention the Mgbanwe C12, noted his thanks to the team who helped him in putting the machine together. He stated that the machine invention is a victory for the entire team.

He wrote: "The greatest things in life started from a little beginning. This is Mgbanwe C12a(an Improved design of C12). Designed and completed under 3 days and nights hard work.

A machine that transforms hydrocarbon related wastes like plastic, nylon, water proof etc into petrol, kerosene, diesel, tiles, roofing sheets, interlocking stones, bricks e.t.c. I want to use this medium to bless team Emeka Nelson; this is a victory for all of us."

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Source: Legit.ng

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