Nigerian Govt Increase Petrol Price to 151.56 Naira

The Nigerian government has increased the price of Premium Motor Spirit, PMS (Petrol gas) to 151.56 naira per litre.

This was disclosed in a statement from the Pipelines and Product Marketing Company, PPMC, a subsidiary of NNPC.

 The statement was signed by D.O Abalaka of the PPMC, and reads:

“Please be informed that a new product price adjustment has been effected on our payment platform.

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“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.”

He said: “This takes effect from September 2, 2020.”

PMS Fluctuating Price Changes in 2020

March 2020: Due to crude oil crash in the international market, Nigeria reduced PMS pump price from N145 per liter to N125

May 2020: Price adjusted to between N121.50 to N123.50 

July 2020: Price adjusted to beteeen N140.80 – N143.80

September 2020: N151.56 per litre

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