The Petroleum Products Marketing Company has increased the ex-depot price of Premium Motor Spirit (petrol) from N138.62 per litre to N151.56 per litre.
The ex-depot price is the cost for petrol at depots.
According to a memo signed by D.O Abalaka with ref. number PPMC/IB/LS/020 dated September 2, 2020, which was sent to all stakeholders, the new price is effective from today.
“Please be informed that a new product price adjustment has been effected on our payment platform.
”To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre. This is effective from September 2, 2020,” the memo read.
Reacting to the development, ex-Governor Ayodele Fayose in a tweet expressed displeasure that the increament came at this challenging time when everyone is fight the COVID-19 pandemic; “Petrol is now N151.56. The increment was made when other countries are adopting measures to reduce the effects of COVID-19 lockdown on their citizens.
“Just in case those who led the Save Nigeria protests across Nigeria during Peoples Democratic Party government of Dr Goodluck Jonathan are not aware. I warned.”
David Chima is the Group Head (Editors) at Naija Buzz News. He is a very experienced Journalist. He studied Mass Communication at the Nuhu Bamalli Polytechnic Zaria, Kaduna State, before proceeding for Advanced Studies in Mass Communication (Journalism) at the Federal Polytechnic Bauchi, Bauchi State. He previously served as the Head Senior Reporters and Publishers at 1Push.Ng and eventually Naija Buzz News. Chima is a lover of football and a very strong supporter of Barcelona Football Club Spain.