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NNPC releases new pump prices of petrol, Lagos N169, Abuja N174

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.

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