Energy

NNPC Explains PMS Price Adjustment

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
Abuja – 18th March 2020

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