In compliance with the directives of the Minister of State for Petroleum Resources, the Nigerian National Petroleum Corporation (NNPC) has announced a new price regime for its Ex-coastal, Ex-depot and NNPC retail pump prices
Effective from March 19, NNPC Ex-Coastal price for petrol has been reviewed downwards from N117.6 per litre to N99.44 per litre while Ex-Depot price is reduced from N133.28 per litre to N113.28 per litre.
With the reductions, retail pump price is now N125 per litre at all NNPC filling stations across the country.
Malam Mele K. Kyari, the Group Managing Director of NNPC, announced in Abuja on Wednesday evening.
“Despite the obvious cost implication of this immediate adjustment to the Corporation, NNPC is delighted to effect this massive reduction of N20/litre for the benefit of all Nigerians.
“Accordingly, all NNPC Retail stations nationwide have been directed to change the retail pump price to N125/litre, ” the corporation said in a statement personally signed by Kyari.
PerSecondNews reports that the Federal Executive Council (FEC) chaired by President Muhammadu Buhari had deliberated on Sylva’s proposal for a review and approved.
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