The Nigerian National Petroleum Company Limited, NNPC has announced reduction in its pump price of Premium Motor Spirit (PMS), also known as petrol.
This adjustment comes a few days after the Dangote Petroleum Refinery lowered its ex-depot price, influencing market trends.
Checks revealed that some NNPC’s retail stations in Lagos have adjusted their pumps to N860 per litre from the previous N945 per litre.
The national Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the reduction, noting that it’s a welcome development and relief to Nigerians.
“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not reflected on the portal, they told me they are working on updating the portal,” he said.
