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Petrol price hits N151.56 per litre
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A fuel station attendant dispenses kerosene at a Nigerian National Petroleum Corporation (NNPC) mega petrol station in Abuja January 23, 2015. REUTERS/ Afolabi Sotunde
Nigerians will likely have to pay more to buy the product at filling stations.
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The Petroleum Products Marketing Company announced on Wednesday, September 2, 2020 that the ex-depot price of Premium Motor Spirit, also known as petrol, has increased to N151.56 per litre.
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The price was raised from the N138.62 per litre that was announced in August.
The downstream subsidiary of the Nigerian National Petroleum Corporation (NNPC) told industry stakeholders that the adjustment is effective immediately.
"Please be informed that a new product price adjustment has been effected on our payment platform," the memo read.
The ex-depot price is the price at which the product is sold to marketers at the depots.
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It is likely that Nigerians will have to pay more than the set price to buy the product at filling stations.
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