The cost of petroleum in Nigeria has been decreased by the Nigerian National Petroleum Corporation (NNPC).

The NNPC decreased the rate of petrol from N113.28 k per liter to N108.00 k per liter.

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This is the 2nd time the NNPC had minimized the cost of fuel in two months, having initially lowered it on March 19th when the NNPC announced a reduction from N133.28/liter to N113.28/liter.

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The brand-new rate was revealed via the twitter handle of the NNPC on Wednesday and issued by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, who quoted the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan.

According to Dr. Obateru, “the brand-new ex-depot price of Premium Motor Spirit (PMS), otherwise called fuel, shows the company’s market method to make more sales while adhering to the Petroleum Products Pricing Regulatory Agency’s (PPPRA) price template.

“The brand-new rate routine would allow PPMC to enhance its sales volumes from the billions of liters of Petrol it has in storage while supplying economical rate to millions of clients,” even more explained.

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