The Pipeline and Product Marketing Company has announced an increase in the pump price for petrol. The PPMC is a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
The decision was communicated to the public through a press statement signed by D.O Abalaka on behalf of the company. The statement released that the new product price adjustment has been effected on the company’s payment platform.
It said the new price for Premium Motor Spirit is now ₦151.56k per liter and it takes effect from 2nd of September, 2020.
The new price increase came a few hours after the Nigerian Petroleum Marketers Association called upon the Government to increase the price of the pump price of the product to about ₦150 to ₦155.
This is the fourth time the Government will change the price of the premium motor spirit since April 2020.
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Is it fair to increase the pump price for petrol at this period?
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