NNPC breaks silence on ex-coastal, ex-depot petrol price increase
The Nigeria National Petroleum Corporation (NNPC) has clarified the controversy on the reported increase in the ex-depot price of Premium Motor Spirit (PMS) known as petrol.
In a statement made available to journalists on Friday by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, the present increase by the Corporation is a reflection of the interplay of supply and demand.
“The Nigerian National Petroleum Corporation (NNPC) has said it is aware of a document widely circulating in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17 respectively.”
The country’s sole fuel importer noted that “although there was a slight increase in the price based on the prevailing realities of market forces of demand and supply, the correct prices, as can be seen on PPMC’s “Customer Express” platform (online portal for procurement of petroleum products) are: Ex-Coastal Price – N128, and Ex-Depot Price (with collection) – N153.17.”
The run oil corporation advised Marketers to make their purchases through the online “Customer Express” platform (PPMCCustomer.Express/login/authenticate) at the recommended prices.
