NOVEMBER 14, 2020
The Nigerian National Petroleum Corporation (NNPC), on Friday, said the “slight increase” in the ex-coastal price and ex-depot price of Premium Motor Spirit, widely known as petrol, is due to the “prevailing realities of market forces of demand and supply.”
The NNPC made its position known in a statement signed by its Group General Manager, Public Affairs Division, Kennie Obateru.
The corporation said the correct prices, as seen on the Pipelines and Product Marketing Company’s online portal for procurement of petroleum products are: ₦128 for Ex-Coastal Price and ₦153.17 and Ex-Depot Price (with collection).
Obateru further advised petrol marketers to make their purchases through the online PPMC platform at the recommended prices.
The ex-coastal and ex-depot prices are expected to impact on pump prices nationwide.