In compliance with the directives of the Honourable Minister of State for Petroleum Resources on PMS pricing, the Nigerian National Petroleum Corporation (NNPC) has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.
According to statement signed by the Group Managing Director,Mele K. Kyari, 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.
He said these reductions will therefore translate to N125/litre retail pump price.
Kyari added that 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.
He said all NNPC Retail stations nationwide have been directed to change the retail pump price to N125/litre.