FG raises petrol depot price to N 151.56 per liter
The Petroleum Products Marketing Company in Nigeria which is a subsidiary of the Nigerian National Petroleum Corporation has today increased the ex-depot price of Premium Motor Spirit, popularly known as petrol/ fuel, to N 151.56 per liter from the initial N 138.62 per liter.
This was made known to the press in an internal memo from their Ibadan Depot to every other stakeholder around the country with reference number PPMC/ IB/LS/ 020 dated September 2, 2020, which was signed by D .O. Abalaka.
According to NNPC, the ex-depot price is the price at which the product is sold to marketers at the depots.
Part of the Memo reads: “Please be informed that a new product price adjustment has been effected on our payment platform.
”To this end, the price of Premium Motor Spirit ( PMS ) is now one hundred and fifty-one naira, fifty-six kobo ( N 151 .56 k) per liter. This is effective from September 2, 2020.”
Nawda Ugochinyere Onyechere reporting, Obinwannem News