Updated: Buhari Reduces Petroleum Price To N125 Per Litre

In compliance with the Federal Government directive after it's weekly Federal Executive Council (FEC) meeting, the Nigerian National Petroleum Corporation (NNPC) reviewed pump price all over the country to N125/litre. This is contained in a press release via their Twitter handle. Screenshot below: PMS PRICE ADJUSTMENT 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/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre 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. Accordingly, all NNPC Retail stations nationwide have been directed to change the retail pump price to N125/litre. Mele K. Kyari Group Managing Director, #NNPC Abuja – 18th March 2020