The Federal Government may increase the price of Premium Motor Spirit better known as petrol, to three hundred and two naira per litre in February 2022 as part of the recommendation of the National Economic Council in November 2021.
The recommendations were put forward by the NEC committee discussing with the Nigerian National Petroleum Corporation on the appropriate pricing of PMS in Nigeria.
The report was presented by Kaduna state governor, Nasir El-Rufai who is the head of the committee.
The committee was established last year by NEC headed by Vice-President Yemi Osinbajo to look into the falling revenues of states.