Banditry, kidnapping, Coronavirus, oil price war that puts Nigeria and others in a spot. All bad news.
And then the Nigeria National Petroleum Corporation (NNPC) announces what in Nigerian Pidgin English parlance is described as “at all, at all, na im bad pass” (meaning a little is better than none) by relaying news of a drop in pump price of Premium Motor Spirit (petrol) and Kerosene.
From Thursday, PMS sells for about N20 lower at N125 per litre.
The NNPC statement reads: “In compliance with the directives of the Honourable Minister of State for Petroleum Resources on PMS pricing, the Corporation has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.
“Effective 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre to N113.28/litre. These reductions will therefore translate to N125/litre retail pump price.
“Despite the obvious cost implication of this immediate adjustment to the Corporation, NNPC is delighted to effect this massive reduction of N20/litre for the benefit of all Nigerians.
“Accordingly, all NNPC Retail stations nationwide have been directed to change the retail pump price to N125/litre.”