The Nigerian National Petroleum Corporation (NNPC) has said that its retail stations will begin to sell fuel at the adjusted price of N125 per litre beginning from March 19, 2020.
This is in line with the Federal Government’s directive ordering the NNPC to adjust the price of fuel to reflect global market realities.
Speaking on the adjustment and new directives to its retail stations, the Corporation’s Group Managing Director, Malam Mele Kyari, said the NNPC has reviewed its Ex-coastal, Ex-depot and NNPC retail pump prices.
According to his statement on Wednesday, Kyari said 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.
Malam 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.