The Petroleum Products Marketing Company, PPMC on Wednesday increased the price for the Premium Motor Spirit, PMS, commonly known as Petrol from N138.62 to N151.56 per litre.
This was contatined in a statement by D.O Abalaka of PPMC , which is also a subsidiary of the Nigerian National Petroleum Corporation, NNPC.
The statement reads “Please be informed that a new product price adjustment has been effected on our payment platform,” PPMC said in a memo to industry stakeholders.
“To this end, the price of premium motor spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56) per litre.”
The agency also revealed that the new price takes effect Wednesday, September 2, 2020.
Some reactions from Nigerians below;
March 2018, when it was time to reduce the pump price of petrol from N145/litre to N125, the "approval" was by "President Muhammadu Buhari".— 'Fisayo Soyombo (@fisayosoyombo) September 2, 2020
Today, time to increase it from N138.62 to N151.56, the "announcement" is by "PPMC".
Smart play on avoidance of responsibility.
THE UNFORGETTABLE TENURE.— Mubailu Atiku Abubakar Support Group (@MubailuG) September 2, 2020
●Bag of Sugar N7,000
●Bag of Flour N6,050
May the Soul of the Best President Nigeria Ever Had Continue To Rest in Peace. [RIP YAR ADUA] 😭😭😭😭 pic.twitter.com/XJlp2X1Yp2
The people who were jumping up & down in Ojota with us under GEJ when Petrol was N86 are now buying for N151 without complain. Fear will not even allow them try the things they did against Jonathan to Buhari.— Comrade Deji Adeyanju (@adeyanjudeji) September 2, 2020
BREAKING: Petrol now N151.56 per litre.— AyeMojubar 👠 (@ayemojubar) September 2, 2020
😂 Next level, new level, new devil, new problem.
I congratulate Buhari & APC supporters on the raise of Petrol price to N151.56.— Tope Akinyode (@TopeAkinyode) September 2, 2020
These set of people are clearly exempted from the horrific policies of this regime. The increased electricity tariff won't affect them & now there's so much Rice for export in Kano.#RevolutionNow
Nigeria in 2015 vs Nigeria in 2020— Feeling (@damorelaa) September 2, 2020
Petrol price: N87 vs N151.50
Dollar: N200 vs N450
Rice: N8,500 vs N31,000
Electricity tariff: N14.23 vs N62.33
GDP: $494.6bn vs $446.54b
Per capital income: $2,730.43 vs $2,222
Vat: 5% vs 7.5%
Stamp duty: N0 – N50/1k
O da pe mo shilu ya! pic.twitter.com/iC1SKKKPKJ
Buhari was shocked when petrol was bellow N70 per litre during GEJ regime, now 1 litre of petrol is N151. After all, he appointed himself as the minister of petrol. wow!— My Deen My Swag 💫 (@AM_Saleeem) September 2, 2020
The change we were promised.
Petrol price now ₦151.5600 — PPMC— nafeeu (@nafeezi) September 2, 2020
₦5.6 billion was paid as subsidy in June
The masses must recalibrate and live within their means
There is ₦30 food in Kano — Sabo Nanono