The pump price for petrol has been increased, this is according to a memo made available by the Pipelines and Product Marketing Company, PPMC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, and signed by D.O Abalaka.
According to the memo, petrol will now sell for N151.56 per litre from September 2, 2020.
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 (N151.56k) per litre.
“This takes effect from September 2, 2020,”
The Federal Government had in March said the pump price of petrol would be determined monthly by market forces.
Also Read: FG reduces petrol pump price by N5.18
Both the Petroleum Products Pricing Regulatory Agency and the NNPC are yet to confirm or deny the change in the petrol pump price.
Editor: Paul Akhagbemhe
