In an internal memo with reference number PPMC/IB/LS/020 from Ibadan depot to all stakeholders, The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N151.56 per litre from N138.62 per litre.
The memo dated September 2, 2020 and signed by D.O Abalaka said:
“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 is effective from September 2, 2020.”
