Business National News

Again, FG increases petrol price

Nigerians will continue to pay more for every litre of fuel bought from the filing stations, no thanks to the increment announced 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 correspondent, said, “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 is effective from September 2, 2020.”

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