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NNPC Reduces Pump Price Of Fuel To N125 Per Litre

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NNPC Reduces Pump Price Of Fuel To N125 Per Litre

Published

6 years ago

on

March 19, 2020

By

Optimum Times

The Nigerian National Petroleum Corporation (NNPC) has reduced the pump price of Premium Motor Spirit (PMS) commonly called fuel from N145 per litre to N125 per litre with immediate effect to cushion the effects of fall in price of petroleum products in global market.

A statement signed by the Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mele Kyari, said it was in compliance with the directives of the Minister of State for Petroleum Resources, Timipreye Silva, on PMS pricing.

He said “the Corporation has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.

“Effective 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre to N113.28/litre.

“These reductions will therefore translate to N125/litre retail pump price.

“Despite the obvious cost implication of this immediate adjustment to the Corporation, NNPC is delighted to effect this massive reduction of N20/litre for the benefit of all Nigerians.

“Accordingly, all NNPC Retail stations nationwide have been directed to change the retail pump price to N125/litre.”

Related Topics:Malami Mele Kyari NNPC Pump Price Reduction Timipreye

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