Fuel price to reduce further as NNPC announces 17.9% reduction in depot price
The Nigerian National Petroleum Corporation on Wednesday announced a 17.94 per cent reduction in the ‘ex-depot’ price of petrol.
With the reduction of the ex-depot price, a new retail price of petrol is expected to be announced by the appropriate agency, PPPRA. The Petroleum Products Pricing Regulatory Agency , responsible for price modulation and regulation, is expected to unveil a new fuel pricing template across the country for the month.
Mr Lawan said the NNPC, which is in charge of many mega filling stations operating in some state capitals across the country, will still comply with a new pump price approved by the PPPRA. He said the new price was arrived at after extensive review of market realities by the PPMC’s internal price review unit.
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