Breaking: NNPC Reduces Ex-Depot Price Of Petrol

The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108.00K per litre across all its products loading facilities.
EMAGE News, reports that the new ex-depot price of petrol was disclosed by the corporation’s Group General Manager, Group Public Affairs Division, Kennie Obateru on Wednesday in Abuja, Nigeria’s capital.

Obateru quoted the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan, as saying that the new ex-depot price of Premium Motor Spirit (PMS), otherwise called petrol, reflects the company’s market strategy to make more sales while complying with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) price template.

The Managing Director of the Petroleum Products Marketing Company explained that the new price regime would enable PPMC to boost its sales volumes from the billions of litres of Petrol it has in storage while providing affordable price to millions of customers.

The PPMC MD said the new price was arrived at after extensive review of market realities by the PPMC internal price review unit.

Lawan, however, pointed out that Automotive Gas Oil (AGO), otherwise called diesel, being already deregulated, its prices are determined by market forces.

EMAGE News recalls that the NNPC reviewed its PMS ex-coastal, ex-depot and NNPC Retail pump prices on March 18, 2020. Thus, effective 19 March 2020, NNPC ex-coastal price for PMS was reviewed downwards from N117.6/litre to N99.44/litre while the ex-depot price was reduced from N133.28/litre to N113.28/litre.

Comments

IMF may approve Nigeria’s $3.4bn loan today

There are strong indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria on Tuesday (today). Although the Minister of Finance, Budget and National Planning, Zainab Ahmed, had on April 6, while announcing that Nigeria had applied for the loan, said the funds were expected within six to 12 weeks, Reuters and Bloomberg reported that the IMF would meet over the request today. The reports quoted unofficial sources in the IMF. If approved, the loan would be among the largest allocations by the IMF to an African country in response to the COVID-19 pandemic. It is expected that the IMF Executive Board would approve the loan having already approved similar requests for several countries. According to the IMF, about 102 countries applied for aid as a result of the COVID-19 pandemic. The IMF Managing Director, Kristalina Georgieva, had in a statement on April 7 said the organ...

Lagos ‘lawyer’ disowned by NBA goes into hiding

Nigerians have expressed anger at a Lagos-based ‘lawyer’ and critic, Adeola Samuel-Ilori, after he was disowned by the Nigerian Bar Association. Lawyers and activists, who took to different social media platforms, said they were also shocked that Samuel-Ilori refused to respond to the disclaimer after several days. Our correspondent learnt that the ‘lawyer’ had switched off his phones and had remained incommunicado since the story broke. A top source said Samuel-Ilori had gone into hiding to forestall a possible arrest by the police. PUNCH Metro had exclusively reported that the NBA said Samuel-Ilori’s name could not be found on the enrolment list of lawyers with the Supreme Court of Nigeria. The Ikeja, Lagos branch of the association, also said he was not a member of the group. However, Samuel-Ilori is said to be the Principal Partner of Lead Solicitors, a chamber of legal practitioners, in the Ogba area of Ikeja, Lagos. He was also said to have filed civil suits...

MUSIC — DJ MALICTIKAL DROPS LOCKDOWN MIX PARTY OFFICIALLY

Nigeria’s Fast Rising Super Disc Jockey @DjMalictikal 🎧 has officially dropped a high heat Mix for this #Lockdown season. @DjMalictikal known for the indigenous style of radiant on the turn table when it comes to mixing of Afro, Hiphop, and western genres. #nowplaying DJ_malictikal - Lockdown Party by @DjMalictikal via the @audiomack app https://audiomack.m /song/djmalictikal/dj-malictikal-lockdown-party. @djmalictikaltkg @DjMalictikal He’s in his 20ties and has been able to manage the spotlight scene which can be evident in the approach of inclining himself with great associates and big actors in the Nigerian 🎧 front, Arts 🎭 such as; @Logos_Olori, @Magicsticks, @Bimmoney, @Mandredzino and @jaypizzleproductions who happens to be his Cousin are few people he has collaborated in different projects in the past few years. @DjMalictical Happens to be a very explicit drummer and someone who has a huge drive in Interior and Exterior design plus Stage Lights Cont...

E_mage

Search This Blog