December 21, (THEWILL) – The Nigerian National Petroleum Company (NNPC) Limited has reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, for marketers.
This is coming after the Dangote Refinery, on Thursday, announced further reduction in petrol price for marketers from N970 per litre to N899.50 per litre as part of measures to provide much-needed relief for Nigerians ahead of the holiday season.
Speaking with newsmen on Saturday, the National President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis Hary, said NNPC had slashed the ex-depot price of its petrol by 12 percent to N899 per litre, from N1,020 per litre in Lagos and N970 for Warri, Oghara, Port Harcourt and Calabar.
He said the price reduction is a “demonstration of the company’s commitment to making petroleum products more affordable for Nigerians.
“We commend NNPCL for responding to our call for affordable PMS prices. The benefits of the price reduction are many including reduced transportation costs. With lower PMS prices, motorists will spend less on fuel, leading to increased disposable income.
“Lower fuel prices will stimulate economic growth by reducing production costs and increasing demand for goods and services. The price reduction will lead to a decrease in the cost of living, enabling Nigerians to afford basic necessities and enjoy a better quality of life”, he added.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
