NNPCL Speaks On Fuel Price Increase Across Nigeria

The Nigerian National Petroleum Company Limited (NNPCL) has denied rumours of a new increase in Premium Motor Spirit (PMS) prices across its retail outlets.

Olufemi Soneye, NNPCL’s spokesperson, clarified in an interview with Daily Post on Tuesday that he is unaware of any hike in fuel pump prices, countering speculation that the cost per litre had risen from ₦1,030 to ₦1,060 in Abuja.

“There is no increase in gasoline price that I am aware of,” Soneye affirmed, dispelling concerns of another price adjustment by the state-owned oil company.

Echoing this stance, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that the NNPCL’s ex-depot price remains unchanged.

He stated on Tuesday, “For independent marketers, we have experienced a fresh price hike as I am speaking with you. NNPCL still sells to us at the same price.

“For Port Harcourt, it is ₦1040 per litre; Abuja and Lagos are around ₦990 per litre.”

The clarification comes amidst report that the administration of President Bola Tinubu, through the Nigerian National Petroleum Company Limited (NNPCL), has raised the pump price of petrol.

The revised prices mean residents in Lagos and Abuja will now pay ₦1,025 and ₦1,060 per litre, respectively.