The Nigerian National Petroleum Corporation (NNPC) has said that its retail stations will commence the dispensation of fuel at the adjusted price of N125 per litre from March 19, 2020.
The move is in compliance with the Federal Government’s directive ordering the NNPC to adjust the price of fuel to reflect global market realities on Wednesday.
Speaking on the adjustment and new directives to its retail stations, the Corporation’s Group Managing Director, Mr Mele Kyari, said the NNPC has reviewed its Ex-coastal, Ex-depot and NNPC retail pump prices.
According to his statement, NNPC’s Ex-coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is now been reduced from N133.28/litre to N113.28/litre.
Mr Kyari stressed that despite the obvious implications of this immediate adjustment to the Corporation, the NNPC is delighted to effect the massive reduction of N20/litre for the benefit of all Nigerians.
