Home Business FG increases pump price above N150

FG increases pump price above N150

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Nigerians may continue to pay more for every litre of fuel bought from the filling stations. This is as a result of the new price hike by the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), as it announced that the ex-depot price of Premium Motor Spirit, also known as petrol, will now sell for N151.56 per litre from N138.62 per litre it was before.

This was disclosed in an internal memo from Ibadan depot to all stakeholders with reference number PPMC/IB/LS/020 dated September 2, 2020, and signed by D.O Abalaka.

The memo, a copy of which was seen by our newsmen said, “Please be informed that a new product price adjustment has been effected on our payment platform.

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”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 is effective from September 2, 2020.”

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