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.”