Breaking: NNPC slashes petrol price to N125 per litre

The Nigeria National Petroleum Corporation, NNPC, said it has slashed the price of petrol from N145 to N125 per litre.

The NNPC said via its official Twitter handle that: “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/ltr to N99.44/litre while Ex-Depot price is reduced from N133.28/ltr 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.”