In News by Oluwaseun Samuel on the 02nd, September, 2020

NNPC Raises Petrol Depot Value To N151.56/Litre

NNPC Raises Petrol Depot Price To N151.56/Litre

FILE: Petrol tankers ready to load at NNPC depot

In response to a report by The PUNCH, the Petroleum Merchandise Advertising and marketing Firm, a subsidiary of the Nigerian Nationwide Petroleum Company, has elevated the ex-depot worth of Premium Motor Spirit, often known as petrol, to N151.56 per litre from N138.62 per litre.

This was disclosed in an inside memo from Ibadan depot to all stakeholders with reference quantity PPMC/IB/LS/020 dated September 2, 2020 and signed by D.O Abalaka.

The ex-depot worth is the worth at which the product is bought to entrepreneurs on the depots.

The memo, a replica of which was seen by our correspondent, stated, “Please be told new product worth adjustment has been effected on our cost platform.

”To this finish, the worth of Premium Motor Spirit (PMS) is now 100 and fifty-one naira, fifty-six kobo (N151.56ok) per litre. That is efficient from September 2, 2020.”

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