The Federal Government on Tuesday announced a new pump price for petrol.
This development was contained in a memo released by the the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and signed by D.O Abalaka.
According to the memo, petrol will now sell for N151.56 per litre from September 2, 2020.
“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 takes effect from September 2, 2020,” the memo reads.
The Federal Government had in March said the pump price of petrol would be determined monthly by market forces.