Petrol price increase looms as PPMC adjusts ex-depot fee


Petrol price increase looms as PPMC adjusts ex-depot fee

A fresh hike in the pump price of Premium Motor Spirit (PMS), popularly known as petrol looms following the adjustment of the ex-depot price of the product.

This adjustment was contained in a leaked internal memo from the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), on Friday, November 13, 2020.

The document marked PPMC/C/MK/003 and dated November 11, 2020, was signed by the Manager Marketing of the PPMC, one Mr Tijani Ali, and addressed to the Executive Director of Commercial (EDC) of the agency.

It contains an advice which seeks an upward review of the ex-depot price of PMS, which is the price of the product sold at the tank farms, to N155.17 per litre from the initial N147.67 per litre.

Consequently, marketers would be dispensing the product to motorists within a band of N165 and N173 per litre.

The memo read in part, “The EDC may please refer to the management directives in respect of the above subject (PPMC PMS prices for November 2020) as per the attached memo.

“In line with the above, we propose PPMC November 2020 actual prices for PMS with effect from 13th November 2020, as follows: PPMC Ex-Coastal Price for PMS N130 per litre; PPMC Ex-Depot Price (With collection) N155.17 per litre.”


Uchechi Ojo
Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn
Mike Ojo

Dada Adekunle Awosika, Taiwo Kupolati ,Tijanni Alkali Gazali, 69 others conferred Senior Advocate of Nigeria

Previous article


Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More in News