The Nigerian National Petroleum Corporation (NNPC) Ltd, has approved an upward review of pump prices of petrol across various regions in Nigeria.
According to a report made available to ENERGY TIMES earlier on Tuesday, the new price regime takes effect immediately.
A breakdown shows that in the Southwest a pump price goes for N179 from N165 per liter, an increase of N14/liter, North West N184 per liter, an increase of N19/liter, North East N189/liter, N24/liter increase, South South N179/liter, an increase of N14/liter.
Others are North Central N179/liter, South East N179/liter, While In Abuja, a liter of fuel now goes for N174 and Lagos N169/ liter.
The ex- depot price has also moved from N148.17 in Lagos to between N160-162 per liter, Warri/ Ogbarra N162-165 and Ph N165-167 per liter from N148.17
“You are hereby directed to change your PMS price on pumps and Totems to the new price effective 19/07/2022”, the memo to the oil marketers reads.
The new prices regime coincided with the today’s transformation of the NNPC Ltd to a fully commercial entity with the largest equity in the Nigerian stock market.
The unveiling ceremony will be performed by the Nigerian President, Mohammadu Buhari in Abuja.