The Petroleum Products Pricing Regulatory Agency has announced a new price band of N151.56 per litre for Premium Motor Spirit also known as petrol.
The Nigerian Government had in March said the pump price of petrol would be determined by market forces, stating that how much Nigerians would pay would be largely determined by the international prices of crude oil. The memo reads, “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 is now one hundred and fifty-one naira, fifty-six kobo per litre. This takes effect from September 2, 2020.”
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