The Nigerian National Petroleum Corporation (NNPC)’ subsidiary, the Petroleum Products Marketing Company, has announced the increase in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to N155.17 per litre from N147.67 per litre.
The PPMC made this disclosure in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali.
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The Independent Petroleum Marketers Association of Nigeria (IPMAN ) has also directed marketers to sell the PMS for N170 per litre.
IPMAN National Vice President, Alhaji Abubakar Maigandi, said: “The PPPMC last midnight told us that the ex-depot price is now N155. 17 per litre. We have directed our marketers to sell for N170 per litre.”
He also noted the price will still depend on the forces of demand and supply.
The price would take effect from today Friday, 13 November 2020.
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