The NNPC, Nigeria state-owned petroleum company has reduced the price of petrol from N113.28k per litre to N108.00k per litre representing a 4.8% drop in prices. This is the second time in about two months that the NNPC has drop the price of petrol. On March 19th, 2020, the NNPC announced a reduction from N133.28/litre to N113.28/litre.
The current drop was announced via the twitter handle of the NNPC on Wednesday and issued by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, who quoted the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan.
According to Dr. Obateru, “the new ex-depot price of Premium Motor Spirit (PMS), otherwise called petrol, reflects the company’s market strategy to make more sales while complying with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) price template.”
The current drop was announced via the twitter handle of the NNPC on Wednesday and issued by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, who quoted the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan.
According to Dr. Obateru, “the new ex-depot price of Premium Motor Spirit (PMS), otherwise called petrol, reflects the company’s market strategy to make more sales while complying with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) price template.”
