The Petroleum Products Pricing Regulatory Agency (PPPRA ) announced the discount of the pump price of the Premium Motor Spirit (PMS) to N121.50 from N123 per litre.
The PPPRA in its memo titled “A.4/9/017/C.2/IV/701 31“, additionally disclosed that the ex-depot price band is now N100.13 and N108.13 per litre whereas ex-depot for collection is N108.78 and N111.78 per litre for the month of June.
Marketers directed to comply and operate inside the indicative prices.
The memo read; “Please recall the recently approved pricing regime which became effective 19th March 2020 and the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at the retail stations.”
After a review of the prevailing market fundamentals within the month of May and considering Marketers’ realistic operating costs, as much as practicable.
We wish to advise of a new PMS guiding pump mice with corresponding Ex-Depot price for the month of June, 2020, as follows:
“Price Band: N121.50 N123.50/Litre Ex-Depocorresponding. 13 N104.13/Litre Ex-Depot for Collection: N109.78 N111.78/Litre.”
In other news, Maikanti Baru, the immediate past Group Managing Director of the Nigerian National Petroleum Corporation, has died.
Baru died on Friday night time, May 29, at the age of 60.
