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PPPRA Approves N86.50 As New Pump Price

The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a new pump price for PMS.

Effective January 1, 2016, all NNPC stations will sell furl at N86 per litre while independently owned stations will sell at N86.50.

The Executive secretary of the PPPRA, Farouk Ahmed, announced this at a press conference yesterday.

The new price is based on a new template by the PPPRA. Going forward, the price of PMS will be reviewed quarterly by the PPPRA to take into consideration market forces.

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