NNPC Speaks On Increasing Petrol Price

The Nigerian National Petroleum Corporation Limited (NNPCL) on Monday evening reacted to the speculations that petrol prices might be increased.

Naija News had earlier reported the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday indicated that the pump price of Premium Motor Spirit (PMS) may rise to about N750 per litre.

The National spokesperson of IPMAN, Chinedu Ukadike noted that NNPCL currently maintains its ex-depot price at N587.7. However, if the NNPCL adjusts its prices, “other marketers will do the same.”

NNPCL in its reaction to the speculations amidst warning from the Nigeria Labour Congress (NLC) not to increase the price of petrol stated that it has no intention to increase petrol price.

It said this in reaction to claims making the round that there are fresh plans to raise the price of petrol from the current N617 per litre to between N720 and N750.

The statement released by NNPCL on its Twitter account reads, “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. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide.”