The Nigerian National Petroleum Corporation (NNPC) Limited has significantly increased the price of petrol at its retail stations, pushing the pump price from N617 per litre to N897 per litre.
This increase, which represents a rise of over 45 percent, took effect on Tuesday morning, just two days after the company reported a debt of over $6 billion due to the financial strain from fuel pricing.
The new price was observed at NNPC retail stations in Abuja, confirming the adjustment. However, when approached by Vanguard for comments, NNPC’s Chief Communications Officer, Mr. Olufemi Soneye, stated that he was not aware of any changes in the pump price.
He said, “I’m not aware of this. Thank you for reaching out. I have no comment on the matter at this time. If there are any updates, I will make sure to inform you. I appreciate your understanding,” responding via WhatsApp.
Prior to the official confirmation, a message circulating on social media hinted at the price increase, stating, “Good morning all. This is to inform you that NNPC Retail Management has approved an upward review of PMS pump price from N617/litre to N897/litre effective today, 3rd September 2024. Please, ensure all your pumps and totems (price boards)/MIDs reflect the new PMS price of N897/liter. Thank you.”
