Global Upfront Newspapers
Business Cover News

NNPC raises petrol depot price to N151.56/litre, one day after FG increased electricity tariffs

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N151.56 per litre from N138.62 per litre.

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 ex-depot price is the price at which the product is sold to marketers at the depots.

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.”

The increase comes a day after the federal government approved astronomical increase in the prices of electricity tariffs across the country.

Advertize With Us

See Also:

Nigerian, Beninese navies rescue 11 crew members aboard hijacked Portuguese vessel

Global Upfront

FACT: Studies show hydroxychloroquine does not have clinical benefits in treating COVID-19 – WHO

Global Upfront

Football matches could be played behind closed doors ‘ALL of next season’ under plans by sport’s authorities… as mass gatherings may only be deemed safe following a successful vaccine for the Coronavirus

Global Upfront

South Africa: African Development Bank approves first ever crisis response budget support of R5 billion to fight COVID-19

Global Upfront

French pharmaceutical giant, Sanofi to make COVID-19 vaccine available to all – Official

Global Upfront

How To Wake A 60-Year-Old Sleeping Giant, By Uzor Maxim Uzoatu

Global Upfront

Bank of England and Church of England apologise for historic links to slavery

Global Upfront

Kajuru Bloodbath: Enough Is Enough, We Need Peace, Gov El-Rufai, Hon Caino/Stakeholders

Global Upfront

Edo Governorship Election: IGP deploys 1 DIG, 1 AIG, 8 CPs to coordinate security operations

Global Upfront

Televangelists take a slice as U.S. churches accept billions in Coronavirus aid

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More