NNPC stations begin sale of petrol at N125 March 19

* Other filling stations expected to follow suit immediately

Isola Moses | ConsumerConnect

Following the Federal Executive Council’s (FEC) approval of the latest fuel pump price adjustment in view of the sharp drop in the Brent Crude price in the international oil market, the Nigerian National Petroleum Corporation (NNPC) has said that its retail fuel stations will begin to sell fuel at N125 per litre from March 19, 2020.

ConsumerConnect learnt that the measure is in line with the Federal Government’s directive ordering the NNPC to adjust the price of fuel to reflect the current global market realities.

As regards the adjustment and new directives to its retail filling stations, Malam Mele Kyari, Group Managing Director (GMD) of NNPC, said the Corporation had reviewed its ex-coastal, ex-depot and NNPC retail pump prices.

Malam Kyari, in a statement Wednesday, stated the NNPC ex-coastal price for Premium Motor Spirit (PMS) otherwise known as petrol, has been reviewed downwards from N117.6/litre to N99.44/litre while ex-Depot price has been decreased from N133.28/litre to N113.28/litre.

The NNPC GMD said that despite the noticeable implications of this immediate adjustment to the Corporation, the NNPC is delighted to effect the massive reduction of N20/litre for the benefit of all Nigerian consumers of the petroleum product.

Meanwhile, other petrol stations across the country are expected to equally adjust their PMS pump price accordingly.

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