By Adedapo Adesanya
The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a new pump price band of N151.56 per litre in Nigeria with effect from Wednesday, September 2, 2020.
The new price band is a hike of N12.94 or 9.3 per cent from the previous pump price of N138.62 per litre.
This new development was contained in a memo released by the Pipelines and Product Marketing Company (PPMC) and signed by Mr D.O Abalaka today.
“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,” the PPMC memo read.
This is not the first time this year the agency was increasing the price of petrol in the country.
Dipo Olowookere