- Safiu Kehinde
Barely a week after Dangote dropped its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, the Nigerian National Petroleum Company Limited (NNPC) has also cut down its the ex-depot price of PMS to N825 per litre from N890 per litre.
NPO reported that Dangote had last week dropped its ex-depot price from N890 to N825 which took effect on the 27th of February.
In the same vein, NNPC announced the slash in its ex- depot price.
NNPCL’s spokesperson, Olufemi Soneye, reportedly confirmed the development in an interview with Vanguard yesterday.
According to him, the company has, since deregulation, consistently adjusted prices in response to market dynamics.
Unlike Dangote Refinery, Soneye explained that as an energy company, it is not NNPC’s practice to issue press releases or make public announcements for routine price adjustments at the pump, as such changes are a fundamental aspect of a market-driven system.