PPMC Announces N151.56 as Ex-depot Price for Petrol

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By Edith Ike-Eboh

The Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporations (NNPC), has announced a new ex-depot price of N151.56k  for premium Motor Spirit (PMD) also known as petrol.

It disclosed this in a memo signed by D.O Abalaka of Ibadan Depot to all stakeholders on Wednesday.

The memo with ref number PPMC/IB/LS/020 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 is now N151.56k per liter. This is effective sept. 2, 2020.,” it said.

The News Agency of Nigeria (NAN) reports that ex-depot price is the price marketers buy the product from depot owners.

The PPMC in August,  announced an ex-depot price of N138.62k The September price had an increment of N12.94k.


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