The Nigerian National Petroleum Company Limited, NNPC Ltd, has reduced its ex-depot price of Premium Motor Spirit, commonly referred to as petrol, from N1,020 to N899 per litre, the Petroleum Products Retail Outlets Owners Association of Nigeria has said
PETROAN confirmed the development in a statement on Saturday, days after Dangote Refinery reduced its price also to N899 per litre.
The statement, signed by the association’s National Public Relations Officer, Dr. Joseph Obele, quoted a document released by NNPCL’s Commercial Department, which indicated a reduction based on a regional pricing scheme.
The statement said: “The Nigerian National Petroleum Company Limited has taken a significant step in response to the competitive impact of deregulation in the downstream sector.
“The company recently reduced the ex-depot price of Premium Motor Spirit from N1,020 to N899 per litre.
“Marketers purchasing from Warri, Oghara, Port Harcourt and Calabar will, however, pay N970 per litre to offtake products.”
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
