Petroleum Products Marketing Company (PPMC) has increased the ex-depot price of Premium Motor Spirit, also known as petrol from N147.67 to N155.17.
According to an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali.
The memo, a copy of which was seen by our correspondent, said the new ex-depot price would take effect from Friday, 13th November, 2020.
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
He said, “The implication of the increase in the ex-depot price is that there is going to be an increase in the pump price.
“We are expecting the pump price to range from N168 to N170 per litre.”
Meanwhile, in another story, Presidential spokesman, Femi Adesina has said President Muhammadu Buhari acted with restraint typical of a father during the #EndSARS protests which rocked several states in October.
Femi Adesina said had his principal not exercised the tolerance of a father, “we would have been talking of something else in the country”.
The Special Adviser to the President on Media and Publicity, however, said Buhari would not allow rampaging hoodlums to burn down the country.
Femi Adesina, in a piece published on his website, femiadesina.com on Friday, with the title ‘We Have Not Many Fathers’, said the federal government accepted the five-point demands of the #EndSARS protesters but “the protest was prolonged, and eventually hijacked and misdirected” because the youths didn’t see what the elders saw.
He wrote; “All through the EndSARS protest and the riots, mayhem and looting that followed, President Buhari acted like a father. And though we have millions of instructors in this country, we have not many fathers. President Buhari is one.
“The President is by no means a soft man. We remember the man of iron and steel that ruled with iron fist between January 1984 and August 1985, with his kindred spirit, Babatunde Idiagbon. They attempted to knock sense into our heads as Nigerians, but were eventually toppled by people who had less patience for discipline.
“Is President Buhari as hard as he was in 1984? Yes and no. In personal traits and attributes, he remains the unbending iron. But in terms of administration and response to people and situations, he is tempered by democracy, and by time. What he could do by military fiat then, he must pass through democratic due process now.
“If President Buhari hadn’t exercised the restraint and tolerance of a father, at a time that even hitherto respected people instigated the protesters to carry on (and they promptly went underground when anarchy ensued), we would have been talking of something else in the country. The rivers of Nigeria could have turned crimson, and mourning and lamentations would have suffused the land. But we are thankful for the father in President Buhari, patient and enduring, almost to a fault.”