The Nigerian National Petroleum Company Limited (NNPCL) has denied claims of a new increase in fuel prices across its retail stations, clarifying that there has been no official change in the price of Premium Motor Spirit (PMS), commonly known as petrol.
The rumors of a price hike began circulating after speculations emerged that the NNPCL had allegedly raised fuel prices from N1,030 per liter to N1,060 in Abuja. These claims sparked public concern as Nigerians feared another surge in fuel costs, which would impact transportation, goods, and services across the nation.
Addressing these rumors directly, Olufemi Soneye, spokesperson for NNPCL, stated, “There is no increase in gasoline price that I am aware of.” Soneye’s remarks were made during an exclusive interview on Tuesday, where he emphasized that NNPCL has not adjusted its pump price.
His statement came at a crucial time, as Nigerians continue to face economic challenges, and any indication of increased fuel prices often leads to widespread apprehension.
In support of Soneye’s statement, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that there has been no recent change in NNPCL’s ex-depot price.
Ukadike stated, “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.” He added that prices across different regions currently remain steady, with Port Harcourt seeing N1,040 per liter and Abuja and Lagos maintaining prices around N990 per liter.
The controversy also links back to the larger fuel supply chain issues. Aliko Dangote, President of the Dangote Group, recently commented that certain petroleum marketers were not utilizing his refinery’s fuel output.
His refinery, capable of producing up to 500 million liters, remains a key player in Nigeria’s petroleum industry. However, it appears that, despite local production capabilities, Nigeria still faces challenges in achieving price stability and consistent supply across all regions.
