Breaking: FG increases pump price of petrol to N151.56

The Pipelines and Product Marketing Company (PPMC), has announced an increment in the pump price of petrol.

PPMC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, said the pump price of petrol has been increased to N151.56 per litre.

This is coming barely a day after the Managing Director of 11 Plc (formerly Mobil Oil Nigeria Plc), Adetunji Oyebanji, who also doubles as the Chairman of the Major Oil Marketers Association of Nigeria, said that the pump price of petrol should be closer to N155 per litre.

According to the statement signed by D.O Abalaka,Depot Manager of PPMC, the new price adjustment has been effected.

The statement read: “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.”

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