- The cost of petrol is more likely to drop as NNPC sells to marketers at the depot at a new reduced price
- The national oil company has also promised marketers that there will be more supply for them at the depot
- The most recent data from NNPC shows that in February 2024, the price of a litre of petrol increased by 157.57% compared to the previous year’s price
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends
The Nigerian National Petroleum Company Limited (NNPCL) has decided to crash the depot price of the Premium Motor Spirit (PMS), otherwise known as petrol, from N640 per litre to N570 per litre through direct allocation to independent marketers.
