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NNPCL Denies Alleged Plan To Increase Petrol Pump Prices

Since President Bola Tinubu assumed office on May 29, declaring that "fuel subsidy is gone", the NNPC has increased its prices at least twice.


An NNPC sign showing PMS (petrol) selling for ₦617 in Abuja in July 2023.

 

The Nigerian National Petroleum Company (NNPC) Limited has refuted claims that it plans to increase its pump prices for Premium Motor Spirit, commonly referred to as petrol.

The company’s management, in a statement shared Friday on X, said this was contrary to speculation.

“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated,” the statement read.

READ ALSO: Subsidy Removal: Not Much Was Done To Properly Educate Nigerians, Says Otti

According to NNPC Limited, its retail stations sell the best quality products at the most affordable prices.

Since President Bola Tinubu assumed office on May 29, declaring that “fuel subsidy is gone“, the NNPC has increased its prices at least twice, now costing three times the cost at the time: below N200 per litre.