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PPPRA mulls increase in petrol pump price



… Young Nigerian invents waste-to-petrol conversion machine

PETROLEUM Product Pricing Regulatory Agency (PPPRA) has recommended an upward review of the product from N121.50k to the regions of N140.80 and N143.80 per litre.

  In a release, the agency recommended that a litre of petrol should now be sold between N140.80 and N143.80.

  According to PPPRA, “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.”

  The media had earlier reported that difficult days may be lying ahead for Nigerians as three refineries in the country have recorded a combined loss of N154 billion.

  In another development, a Nigerian, Emeka Nelson has developed a machine that converts wastes to petrol.

  Report says the machine does other things and may help Nigeria’s struggling economy.

  Sharing in his Facebook page, the young Nigerian shared in a post list of things the machine can do.

  He stated that the machine transforms hydrocarbon related wastes like plastic, nylon and others into kerosene, diesel, tiles, interlocking stones, bricks and roofing sheets.

  Nelson, who named his invention Mgbanwe C12, stated that the invention is a victory for the entire team who assisted him in putting up the project.

  “The greatest things in life started from a little beginning. This is Mgbanwe C12a (an Improved design of C12). Designed and completed under three days and nights of hard work. A machine that transforms hydrocarbon related wastes like plastic, nylon, water proof, etc into petrol, kerosene, diesel, tiles, roofing sheets, interlocking stones and bricks.” He wrote:

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