NNPC Speaks On PMS Price Adjustment To N125

Press Statement

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In compliance with the directives of the Honourable Minister
of State for Petroleum Resources on PMS pricing, the Corporation has reviewed
its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.

Effective 19th March 2020, NNPC Ex-Coastal price for PMS has
been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price
is reduced from N133.28/litre to N113.28/litre.

These reductions will therefore translate to N125/litre
retail pump price.

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.

Mele K. Kyari

Group Managing Director, NNPC