The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS) from N113.28k per litre to N108.00K per litre across all its products loading facilities.
This was contained in a statement issued by the corporation’s spokesman, Dr Kenny Obateru in Abuja on Wednesday.
According to him, the strategy will help to make more sales while complying with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) price template.
Lawan explained that the new price regime would enable PPMC to boost its sales volumes from the billions of litres of Petrol it had in storage while providing affordable price to millions of customers.
He said the new price was arrived at after extensive review of market realities by the PPMC internal price review unit.
Edited By: Bayo Sekoni/Ismail Abdulaziz (NAN)