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NNPCL speaks on fuel price hike rumour

Fuel price will not go up for now, the NNPCL assures Nigerians

by Samson Echenim

The Nigerian National Petroleum Company Limited (NNPCL) has revealed that there are no plans to hike fuel price for now.

NNPCL made the clarification amid speculations of increase in pump price of petrol and threat by the Organized Labour to embark on industrial action over any further raise.

Petroleum marketers had last week hinted that fuel would sell above N700 per litre from this week, fuelling rumours about another hike in the price premium motor spirit (PMS) after the price went up from N185 to N480 and to N615 per litre within 2 months since June 1, 2023 after President Bola Tinubu announced end of the country’s fuel subsidy regime.

NNPCL said in a statement made available to The Economy today that it has no plan to increase fuel.

The NNPCL said it has no plan to increase price from the current N617 per litre to between N720 and N750 in the coming weeks.

“Dear esteemed customers, we at NNPC retail value your patronage, and we do not have the intention to increase our Premium Motor Spirit (PMS) pump prices as widely speculated,” the company stated.

It urged Nigerians to “buy the best quality products at the most affordable prices at our NNPC Retail stations nationwide.”


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