In a statement just released by the Acting Executive Secretary of PPPRA, Sotonye E. Iyoyo, announced that, effective immediately that the new price band for PMS shall be at a maximum of N145/litre.
She said, However, NNPC Retail stations on the outskirts of major cities are advised to sell at price lower than N145/litre.
This review became imperative in the face of extreme difficulties faced by Petroleum Product Importers in sourcing foreign exchange. To meet the consumption demand of the Nation, Importers will henceforth be permitted to source for their foreign exchange requirements from the secondary sources.
PPPRA is conscious of the difficulties that Nigerians have been going through in the last few months and to ameliorate this situation, we shall continue to modulate pricing in accordance with prevailing market dynamics thereby ensuring fair value to all Citizens.