The Nigerian National Petroleum Corporation announced a
reduction in the ex-depot price of petrol from one hundred and
thirteen naira twenty-eight kobo per litre to one hundred and eight
naira per litre.
The ex-depot price is the price at which the product is sold to
marketers at the depots.
It said the price reduction took effect across all its products
loading facilities as well as in its throughput operations.
The corporation’s Group General Manager, Group Public Affairs
Division, Kennie Obateru, quoted the Managing Director of the
Petroleum Products Marketing Company, Musa Lawan, as saying that the
new ex-depot price of Premium Motor Spirit petrol was a reflection of
the company’s market strategy.
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