The Nigerian National Petroleum Company Limited has slashed the ex-depot price of petrol for oil marketers, bringing it down from N1020 to N899 per litre.
Lagos, N899.0
Warri, N970.0
Oghara, N970.0
Port Harcourt, N970.0
Calabar, N970.0
Dr. Billy Gillis Hary, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), acknowledged this development by stating, “The reduction in the PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians. We commend NNPCL for responding to our call for affordable PMS prices.”
Hary continued saying “The benefits of the price reduction are many including reduced transportation costs. With lower PMS prices, motorists will spend less on fuel, leading to increased disposable income.
“Lower fuel prices will stimulate economic growth by reducing production costs and increasing demand for goods and services. The price reduction will lead to a decrease in the cost of living, enabling Nigerians to afford basic necessities and enjoy a better quality of life.”
