… as Oil Marketers Deny FG on N5.35bn Subsidy payment
The Federal Government has from September 2, 2020, increased to N151.56 , the pump price of a litre of petrol , otherwise called premium motor spirit(PMS).
The new development was contained in a memo released by the Pipelines and Product Marketing Company (PPMC) and signed by D.O Abalaka.
The PPMC statement reads: “Please be informed that a new product price adjustment has been effected on our payment platform. To this end, the price of Premium Motor Spirit (PMS) is now N151.56k per litre from September 2, 2020”.
This is as the oil marketers have denied receiving petrol subsidy payments, amounting to about N5.35 billion in June 2020 from Nigerian National Petroleum Corporation (NNPC).